Vest Financial LLC Buys 582 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Vest Financial LLC boosted its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 21.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,305 shares of the technology company’s stock after buying an additional 582 shares during the period. Vest Financial LLC’s holdings in Cogent Communications were worth $255,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CCOI. State Street Corp increased its holdings in shares of Cogent Communications by 1.3% during the third quarter. State Street Corp now owns 1,750,810 shares of the technology company’s stock valued at $132,921,000 after acquiring an additional 22,738 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in Cogent Communications by 0.3% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company’s stock valued at $117,107,000 after purchasing an additional 5,307 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Cogent Communications by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,039,458 shares of the technology company’s stock valued at $78,916,000 after purchasing an additional 4,197 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cogent Communications by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,014,322 shares of the technology company’s stock worth $77,021,000 after buying an additional 3,093 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Cogent Communications by 11.0% in the third quarter. FMR LLC now owns 800,758 shares of the technology company’s stock worth $60,793,000 after buying an additional 79,474 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Cogent Communications Trading Up 1.0 %

NASDAQ:CCOI opened at $80.39 on Monday. The company has a 50 day simple moving average of $75.74 and a two-hundred day simple moving average of $75.91. The company has a market cap of $3.94 billion, a PE ratio of 103.06 and a beta of 0.40. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.01. The company had revenue of $257.20 million during the quarter, compared to analysts’ expectations of $258.69 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. Cogent Communications’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.13) earnings per share. Research analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Insider Activity

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $81.58, for a total transaction of $391,584.00. Following the completion of the sale, the chief financial officer now directly owns 88,500 shares of the company’s stock, valued at approximately $7,219,830. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John B. Chang sold 2,280 shares of Cogent Communications stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $80.41, for a total transaction of $183,334.80. Following the transaction, the vice president now owns 69,300 shares in the company, valued at $5,572,413. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,786 shares of company stock valued at $1,830,966 in the last quarter. 11.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, UBS Group assumed coverage on shares of Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cogent Communications has an average rating of “Hold” and an average target price of $80.25.

About Cogent Communications

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.