GLOBALT Investments LLC GA Has $4 Million Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

GLOBALT Investments LLC GA reduced its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 0.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 51,891 shares of the technology company’s stock after selling 226 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Cogent Communications were worth $3,999,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Cogent Communications by 4.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company’s stock valued at $400,000 after buying an additional 212 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after purchasing an additional 218 shares during the last quarter. Royce & Associates LP increased its stake in shares of Cogent Communications by 0.6% during the 4th quarter. Royce & Associates LP now owns 33,883 shares of the technology company’s stock worth $2,611,000 after purchasing an additional 218 shares during the last quarter. KBC Group NV increased its stake in shares of Cogent Communications by 28.7% during the 3rd quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock worth $111,000 after purchasing an additional 326 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Cogent Communications by 0.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 50,436 shares of the technology company’s stock worth $3,887,000 after purchasing an additional 326 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.25.

Insider Transactions at Cogent Communications

In other news, CFO Thaddeus Gerard Weed sold 4,900 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the completion of the sale, the chief financial officer now owns 103,000 shares of the company’s stock, valued at approximately $7,422,180. This represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Henry W. Kilmer sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $72.57, for a total transaction of $174,168.00. Following the transaction, the vice president now owns 41,000 shares of the company’s stock, valued at approximately $2,975,370. This represents a 5.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,681 shares of company stock valued at $840,878. Company insiders own 11.00% of the company’s stock.

Cogent Communications Stock Up 1.3 %

Shares of CCOI opened at $68.52 on Monday. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The firm has a market cap of $3.38 billion, a P/E ratio of 87.85 and a beta of 0.45. The firm’s 50-day simple moving average is $75.42 and its 200 day simple moving average is $76.89. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. The firm had revenue of $252.29 million during 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%. On average, analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date is Thursday, March 13th. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s dividend payout ratio is -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.