2,889 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,889 shares of the technology company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in Cogent Communications by 93.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 9,330 shares of the technology company’s stock valued at $578,000 after acquiring an additional 4,500 shares during the period. Ellsworth Advisors LLC acquired a new position in shares of Cogent Communications in the third quarter valued at approximately $374,000. Copeland Capital Management LLC increased its stake in Cogent Communications by 0.7% during the 3rd quarter. Copeland Capital Management LLC now owns 969,139 shares of the technology company’s stock worth $59,990,000 after buying an additional 6,550 shares during the period. Xponance Inc. acquired a new stake in Cogent Communications during the 3rd quarter worth approximately $275,000. Finally, Raymond James & Associates boosted its position in Cogent Communications by 26.8% in the 3rd quarter. Raymond James & Associates now owns 589,196 shares of the technology company’s stock valued at $36,471,000 after buying an additional 124,348 shares during the period. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Cogent Communications Trading Down 0.0 %

NASDAQ CCOI opened at $64.93 on Friday. The firm’s fifty day moving average is $67.93 and its two-hundred day moving average is $69.45. Cogent Communications Holdings, Inc. has a one year low of $57.35 and a one year high of $86.00. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $3.08 billion, a PE ratio of 2.43 and a beta of 0.39.

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

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Friday, March 15th were paid a dividend of $0.965 per share. This represents a $3.86 annualized dividend and a dividend yield of 5.94%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Cogent Communications’s previous quarterly dividend of $0.96. Cogent Communications’s dividend payout ratio is 14.43%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CCOI shares. KeyCorp increased their price objective on Cogent Communications from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. decreased their price objective on Cogent Communications from $74.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Bank of America lowered shares of Cogent Communications from a “buy” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $75.00 in a research note on Thursday, March 7th. TheStreet upgraded shares of Cogent Communications from a “c+” rating to a “b” rating in a research note on Thursday, February 29th. Finally, TD Cowen increased their price objective on Cogent Communications from $81.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $77.57.

Insider Buying and Selling

In other Cogent Communications news, CEO Dave Schaeffer sold 8,826 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $72.55, for a total transaction of $640,326.30. Following the completion of the transaction, the chief executive officer now owns 4,815,764 shares in the company, valued at approximately $349,383,678.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cogent Communications news, CEO Dave Schaeffer sold 8,826 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $72.55, for a total transaction of $640,326.30. Following the transaction, the chief executive officer now owns 4,815,764 shares in the company, valued at approximately $349,383,678.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James Bubeck sold 1,920 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.62, for a total value of $147,110.40. Following the completion of the sale, the executive now directly owns 54,822 shares of the company’s stock, valued at $4,200,461.64. The disclosure for this sale can be found here. Insiders sold a total of 69,320 shares of company stock valued at $4,669,997 over the last three months. 11.40% of the stock is currently owned by company insiders.

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.