Intech Investment Management LLC Purchases 23,534 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Intech Investment Management LLC increased its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 139.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,442 shares of the technology company’s stock after buying an additional 23,534 shares during the period. Intech Investment Management LLC owned 0.08% of Cogent Communications worth $3,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Cogent Communications by 1.3% in the third quarter. State Street Corp now owns 1,750,810 shares of the technology company’s stock worth $132,921,000 after buying an additional 22,738 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in Cogent Communications by 0.3% in the third quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company’s stock worth $117,107,000 after buying an additional 5,307 shares during the last quarter. Geode Capital Management LLC increased 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. FMR LLC increased its holdings in 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 during the last quarter. Finally, Reaves W H & Co. Inc. increased its holdings in Cogent Communications by 17.1% in the fourth quarter. Reaves W H & Co. Inc. now owns 698,518 shares of the technology company’s stock worth $53,835,000 after buying an additional 101,956 shares during the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Cogent Communications to a “sell” rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cogent Communications presently has an average rating of “Hold” and a consensus price target of $80.25.

Insider Transactions at Cogent Communications

In related news, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $72.57, for a total value of $174,168.00. Following the completion of the transaction, the vice president now directly owns 41,000 shares of the company’s stock, valued at $2,975,370. This trade represents a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lewis H. Ferguson sold 956 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total value of $66,308.16. Following the completion of the transaction, the director now directly owns 18,652 shares of the company’s stock, valued at approximately $1,293,702.72. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,681 shares of company stock worth $840,878. Insiders own 11.40% of the company’s stock.

Cogent Communications Trading Up 0.2 %

Shares of CCOI stock opened at $70.51 on Thursday. The business’s 50 day moving average is $75.23 and its two-hundred day moving average is $76.85. The company has a market cap of $3.48 billion, a PE ratio of 90.40 and a beta of 0.45. The company has a quick ratio of 2.03, a current 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 announced its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.31. The business had revenue of $252.29 million for the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. Equities analysts predict that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $1.005 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.02 annualized dividend and a dividend yield of 5.70%. Cogent Communications’s dividend payout ratio (DPR) is presently -93.49%.

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.