A number of other equities analysts have also commented on the company. Moffett Nathanson lifted their price objective on Cogent Communications from $56.00 to $64.00 in a research note on Friday, June 26th. Citigroup raised Cogent Communications from a neutral rating to a buy rating and raised their target price for the company from $80.00 to $85.00 in a report on Tuesday, June 16th. ValuEngine lowered Cogent Communications from a buy rating to a hold rating in a report on Friday, May 1st. SunTrust Banks raised Cogent Communications from a hold rating to a buy rating and set a $90.00 price objective for the company in a research report on Wednesday, July 1st. Finally, Credit Suisse Group reaffirmed a buy rating and set a $99.00 target price on shares of Cogent Communications in a research report on Tuesday, July 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $81.38.
NASDAQ:CCOI opened at $90.11 on Thursday. The company’s 50 day moving average is $80.67 and its 200-day moving average is $79.24. Cogent Communications has a 12 month low of $53.24 and a 12 month high of $92.96. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 109.89, a P/E/G ratio of 8.53 and a beta of 0.23.
In other Cogent Communications news, VP Timothy G. Oneill sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $76.81, for a total transaction of $153,620.00. Following the completion of the transaction, the vice president now owns 34,000 shares in the company, valued at $2,611,540. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy G. Oneill sold 400 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $80.49, for a total transaction of $32,196.00. Following the transaction, the vice president now owns 33,600 shares of the company’s stock, valued at approximately $2,704,464. The disclosure for this sale can be found here. Insiders have sold 11,070 shares of company stock worth $863,509 in the last quarter. Corporate insiders own 10.71% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CCOI. Copper Rock Capital Partners LLC acquired a new position in Cogent Communications during the second quarter worth $472,846,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Cogent Communications during the 1st quarter worth about $52,629,000. Norges Bank acquired a new stake in shares of Cogent Communications during the 4th quarter worth about $34,554,000. Nuveen Asset Management LLC lifted its holdings in Cogent Communications by 138.2% during the 1st quarter. Nuveen Asset Management LLC now owns 783,475 shares of the technology company’s stock valued at $64,221,000 after purchasing an additional 454,603 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Cogent Communications by 1,927.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 344,934 shares of the technology company’s stock valued at $26,683,000 after buying an additional 327,923 shares in the last quarter. 85.75% of the stock is currently owned by institutional investors and hedge funds.
Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.
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