Yousif Capital Management LLC Has $1.68 Million Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Yousif Capital Management LLC raised its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,104 shares of the technology company’s stock after acquiring an additional 497 shares during the quarter. Yousif Capital Management LLC’s holdings in Cogent Communications were worth $1,681,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Cogent Communications by 895.0% in the third quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company’s stock valued at $25,000 after acquiring an additional 358 shares during the last quarter. Strs Ohio lifted its stake in Cogent Communications by 20.0% in the third quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock valued at $111,000 after acquiring an additional 300 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Cogent Communications by 56.7% during the 4th quarter. Fifth Third Bancorp now owns 2,026 shares of the technology company’s stock worth $154,000 after buying an additional 733 shares during the last quarter. CI Investments Inc. acquired a new stake in shares of Cogent Communications during the 3rd quarter worth about $142,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Cogent Communications during the 4th quarter worth about $202,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CCOI shares. KeyCorp raised their target price on shares of Cogent Communications from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. StockNews.com cut shares of Cogent Communications from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Cogent Communications from $74.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. TD Cowen raised their target price on shares of Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Finally, TheStreet upgraded shares of Cogent Communications from a “c+” rating to a “b” rating in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.57.

Cogent Communications Price Performance

NASDAQ:CCOI opened at $64.90 on Thursday. Cogent Communications Holdings, Inc. has a 52 week low of $57.35 and a 52 week high of $86.00. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 2.43 and a beta of 0.39. The firm’s 50-day simple moving average is $67.25 and its 200 day simple moving average is $69.55. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.38 and a current ratio of 1.38.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, February 29th. The technology company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.79. Cogent Communications had a net margin of 135.34% and a negative return on equity of 23.66%. The firm had revenue of $272.10 million for the quarter, compared to analyst estimates of $275.82 million. As a group, sell-side analysts predict that Cogent Communications Holdings, Inc. will post -3.35 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Friday, March 15th were issued a $0.965 dividend. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.96. This represents a $3.86 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend was Thursday, March 14th. Cogent Communications’s dividend payout ratio (DPR) is currently 14.43%.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $76.62, for a total value of $147,110.40. Following the transaction, the executive now directly owns 54,822 shares of the company’s stock, valued at approximately $4,200,461.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Dave Schaeffer sold 26,174 shares of Cogent Communications stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $64.21, for a total transaction of $1,680,632.54. Following the sale, the chief executive officer now directly owns 4,653,203 shares of the company’s stock, valued at approximately $298,782,164.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.62, for a total transaction of $147,110.40. Following the sale, the executive now directly owns 54,822 shares in the company, valued at $4,200,461.64. The disclosure for this sale can be found here. Insiders have sold a total of 69,320 shares of company stock valued at $4,669,997 in the last ninety days. 11.00% of the stock is currently owned by company insiders.

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.