Raymond James & Associates Has $47.94 Million Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Raymond James & Associates raised its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 630,300 shares of the technology company’s stock after purchasing an additional 41,104 shares during the period. Raymond James & Associates owned 1.30% of Cogent Communications worth $47,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 358 shares during the period. 1832 Asset Management L.P. raised its position in shares of Cogent Communications by 70.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 408 shares of the technology company’s stock valued at $27,000 after acquiring an additional 168 shares during the last quarter. Fortis Capital Advisors LLC acquired a new position in shares of Cogent Communications in the 4th quarter valued at $28,000. Belpointe Asset Management LLC boosted its position in shares of Cogent Communications by 68.5% in the 1st quarter. Belpointe Asset Management LLC now owns 1,289 shares of the technology company’s stock worth $82,000 after purchasing an additional 524 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of Cogent Communications by 29.4% during the second quarter. Huntington National Bank now owns 1,470 shares of the technology company’s stock worth $99,000 after purchasing an additional 334 shares during the period. Institutional investors own 92.45% of the company’s stock.

Insider Transactions at Cogent Communications

In related news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $73.47, for a total value of $176,328.00. Following the sale, the vice president now owns 41,000 shares of the company’s stock, valued at $3,012,270. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $73.47, for a total value of $176,328.00. Following the completion of the transaction, the vice president now directly owns 41,000 shares of the company’s stock, valued at $3,012,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dave Schaeffer sold 26,174 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $64.21, for a total transaction of $1,680,632.54. Following the transaction, the chief executive officer now owns 4,653,203 shares in the company, valued at $298,782,164.63. The disclosure for this sale can be found here. Insiders sold a total of 69,320 shares of company stock worth $4,669,997 in the last three months. Insiders own 11.40% of the company’s stock.

Cogent Communications Stock Up 3.1 %

NASDAQ:CCOI opened at $64.81 on Thursday. The stock has a 50-day simple moving average of $72.94 and a 200 day simple moving average of $69.53. Cogent Communications Holdings, Inc. has a 52-week low of $57.35 and a 52-week high of $86.00. The company has a market cap of $3.07 billion, a PE ratio of 2.42 and a beta of 0.41. 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 issued its quarterly earnings results on Thursday, February 29th. The technology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.79. The company had revenue of $272.10 million during the quarter, compared to analysts’ expectations of $275.82 million. Cogent Communications had a net margin of 135.34% and a negative return on equity of 23.66%. On average, sell-side analysts expect that Cogent Communications Holdings, Inc. will post -3.32 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Shareholders of record on Friday, March 15th will be given a dividend of $0.965 per share. The ex-dividend date is Thursday, March 14th. This is a boost from Cogent Communications’s previous quarterly dividend of $0.96. This represents a $3.86 annualized dividend and a yield of 5.96%. Cogent Communications’s payout ratio is 14.43%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com lowered Cogent Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. KeyCorp lifted their price objective 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. TheStreet raised shares of Cogent Communications from a “c+” rating to a “b” rating in a research note on Thursday, February 29th. Bank of America cut Cogent Communications from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $75.00 in a research note on Thursday, March 7th. Finally, TD Cowen raised their price target on Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $77.57.

About Cogent Communications

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.