3,465 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. purchased a new position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,465 shares of the technology company’s stock, valued at approximately $263,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in Cogent Communications in the 1st quarter worth approximately $26,000. Blue Trust Inc. increased its holdings in shares of Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after purchasing an additional 272 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Cogent Communications by 72.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after purchasing an additional 226 shares during the period. GAMMA Investing LLC boosted its holdings in Cogent Communications by 207.0% during the third quarter. GAMMA Investing LLC now owns 660 shares of the technology company’s stock worth $50,000 after buying an additional 445 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Cogent Communications by 127.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock worth $44,000 after buying an additional 441 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Insider Activity

In other news, Director Lewis H. Ferguson sold 1,550 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total value of $112,561.00. Following the completion of the sale, the director now directly owns 17,748 shares in the company, valued at $1,288,859.76. This represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John B. Chang sold 2,280 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $80.41, for a total transaction of $183,334.80. Following the completion of the sale, the vice president now owns 69,300 shares of the company’s stock, valued at $5,572,413. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,500 shares of company stock worth $5,008,175 over the last three months. Insiders own 11.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CCOI shares. Bank of America downgraded shares of Cogent Communications from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $75.00 to $65.00 in a report on Wednesday, August 21st. The Goldman Sachs Group increased their price target on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Citigroup increased their price target on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Royal Bank of Canada reissued an “outperform” rating and set a $74.00 price target on shares of Cogent Communications in a report on Tuesday, September 3rd. Finally, KeyCorp increased their price target on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.25.

Cogent Communications Stock Performance

NASDAQ:CCOI opened at $79.40 on Monday. 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 company has a fifty day moving average of $78.20 and a two-hundred day moving average of $68.17. The stock has a market capitalization of $3.89 billion, a PE ratio of 101.79 and a beta of 0.40. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, topping 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 net margin of 3.73% and a negative return on equity of 36.31%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the business posted ($1.13) earnings per share. As a group, research analysts forecast that Cogent Communications Holdings, Inc. will post -4.54 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.995 dividend. This represents a $3.98 dividend on an annualized basis and a dividend yield of 5.01%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Friday, November 22nd. Cogent Communications’s dividend payout ratio is 505.13%.

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.