Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Blair William & Co. IL

Blair William & Co. IL reduced its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 17.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 306,552 shares of the technology company’s stock after selling 66,127 shares during the quarter. Blair William & Co. IL’s holdings in Cogent Communications were worth $20,027,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in Cogent Communications by 12.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 218,174 shares of the technology company’s stock valued at $16,594,000 after buying an additional 24,185 shares in the last quarter. PEAK6 Investments LLC raised its holdings in Cogent Communications by 175.1% in the 4th quarter. PEAK6 Investments LLC now owns 37,599 shares of the technology company’s stock valued at $2,860,000 after acquiring an additional 23,934 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Cogent Communications by 46.6% in the 4th quarter. Jennison Associates LLC now owns 828,664 shares of the technology company’s stock valued at $63,028,000 after purchasing an additional 263,276 shares during the last quarter. Reaves W H & Co. Inc. lifted its position in Cogent Communications by 16.2% during the fourth quarter. Reaves W H & Co. Inc. now owns 482,532 shares of the technology company’s stock valued at $36,701,000 after buying an additional 67,201 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Cogent Communications by 1.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 88,263 shares of the technology company’s stock valued at $6,713,000 after purchasing an additional 1,582 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Insider Transactions at Cogent Communications

In related news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $56.00, for a total transaction of $134,400.00. Following the sale, the vice president now directly owns 38,600 shares of the company’s stock, valued at $2,161,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $56.00, for a total value of $134,400.00. Following the completion of the transaction, the vice president now directly owns 38,600 shares of the company’s stock, valued at $2,161,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dave Schaeffer sold 50,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $59.44, for a total transaction of $2,972,000.00. Following the completion of the transaction, the chief executive officer now owns 4,553,038 shares of the company’s stock, valued at approximately $270,632,578.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,440 shares of company stock worth $9,828,016. 11.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com downgraded Cogent Communications from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of Cogent Communications from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, May 13th. The Goldman Sachs Group started coverage on Cogent Communications in a report on Monday, July 1st. They set a “neutral” rating and a $56.00 price target for the company. TD Cowen dropped their price objective on Cogent Communications from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, KeyCorp decreased their target price on shares of Cogent Communications from $88.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.57.

Cogent Communications Stock Performance

CCOI traded up $1.07 during trading on Friday, hitting $66.31. The stock had a trading volume of 394,423 shares, compared to its average volume of 470,174. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.80. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.00. The company has a 50 day simple moving average of $57.35 and a 200-day simple moving average of $65.72. The firm has a market cap of $3.25 billion, a PE ratio of 2.59 and a beta of 0.41.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.19). The business had revenue of $266.17 million during the quarter, compared to the consensus estimate of $274.13 million. Cogent Communications had a negative return on equity of 24.63% and a net margin of 114.09%. Analysts expect that Cogent Communications Holdings, Inc. will post -4.81 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd were given a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 5.88%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.97. The ex-dividend date was Wednesday, May 22nd. Cogent Communications’s dividend payout ratio (DPR) is currently 15.45%.

Cogent Communications Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.