Cogent Communications (NASDAQ:CCOI) Now Covered by UBS Group

Equities researchers at UBS Group began coverage on shares of Cogent Communications (NASDAQ:CCOI) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $102.00 price target on the technology company’s stock. UBS Group’s price target points to a potential upside of 29.70% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group upped their price target on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. upped their target price on Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, August 12th. TD Cowen raised their target price on Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. KeyCorp boosted their price target on shares of Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Finally, Citigroup raised their price objective on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cogent Communications currently has an average rating of “Hold” and an average target price of $80.25.

Cogent Communications Stock Down 0.5 %

NASDAQ CCOI opened at $78.64 on Thursday. Cogent Communications has a one year low of $50.80 and a one year high of $86.76. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The business has a fifty day moving average price of $77.97 and a 200 day moving average price of $67.95. The company has a market cap of $3.85 billion, a P/E ratio of 100.82 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.01. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm had revenue of $257.20 million for the quarter, compared to the consensus estimate of $258.69 million. During the same period last year, the firm posted ($1.13) earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. Research analysts anticipate that Cogent Communications will post -4.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP John B. Chang sold 2,280 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $80.41, for a total value of $183,334.80. Following the sale, the vice president now owns 69,300 shares in the company, valued at approximately $5,572,413. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Sheryl Lynn Kennedy sold 1,350 shares of Cogent Communications stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.58, for a total transaction of $108,783.00. Following the sale, the director now owns 10,318 shares in the company, valued at approximately $831,424.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John B. Chang sold 2,280 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $80.41, for a total value of $183,334.80. Following the completion of the sale, the vice president now directly owns 69,300 shares of the company’s stock, valued at $5,572,413. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,500 shares of company stock worth $5,008,175 over the last ninety days. Corporate insiders own 11.40% of the company’s stock.

Institutional Trading of Cogent Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCOI. Thrivent Financial for Lutherans raised its stake in shares of Cogent Communications by 2,739.1% during the second quarter. Thrivent Financial for Lutherans now owns 1,035,261 shares of the technology company’s stock worth $58,430,000 after purchasing an additional 998,796 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in Cogent Communications by 500.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 1,051,568 shares of the technology company’s stock valued at $68,699,000 after buying an additional 876,326 shares during the period. Capital World Investors raised its position in Cogent Communications by 327.7% during the 1st quarter. Capital World Investors now owns 981,623 shares of the technology company’s stock worth $64,129,000 after buying an additional 752,133 shares during the last quarter. M&G Plc acquired a new stake in shares of Cogent Communications in the 1st quarter worth $27,942,000. Finally, Senator Investment Group LP boosted its holdings in shares of Cogent Communications by 83.0% in the first quarter. Senator Investment Group LP now owns 666,768 shares of the technology company’s stock valued at $43,560,000 after acquiring an additional 302,365 shares in the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

Cogent Communications Company 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.