Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 18.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,809 shares of the technology company’s stock after selling 1,725 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cogent Communications were worth $594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ellsworth Advisors LLC lifted its holdings in Cogent Communications by 2.5% during the 4th quarter. Ellsworth Advisors LLC now owns 5,932 shares of the technology company’s stock worth $451,000 after buying an additional 147 shares during the last quarter. Arizona State Retirement System lifted its stake in Cogent Communications by 1.3% during the third quarter. Arizona State Retirement System now owns 12,379 shares of the technology company’s stock worth $766,000 after purchasing an additional 156 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in Cogent Communications by 1.3% in the third quarter. Taylor Frigon Capital Management LLC now owns 19,229 shares of the technology company’s stock worth $1,190,000 after purchasing an additional 255 shares during the period. Strs Ohio increased its stake in Cogent Communications by 20.0% during the third quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock valued at $111,000 after purchasing an additional 300 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Cogent Communications by 895.0% during the third quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company’s stock worth $25,000 after purchasing an additional 358 shares during the period. 92.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CCOI shares. StockNews.com downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. KeyCorp raised their price target on Cogent Communications from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Bank of America downgraded Cogent Communications from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $75.00 in a research note on Thursday, March 7th. JPMorgan Chase & Co. reduced their price target on shares of Cogent Communications from $74.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Finally, TD Cowen increased their price objective on shares of Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $77.57.

Insider Activity at Cogent Communications

In other Cogent Communications 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 value 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 transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Dave Schaeffer sold 26,174 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $64.21, for a total value of $1,680,632.54. Following the completion of the transaction, the chief executive officer now owns 4,653,203 shares in the company, valued at approximately $298,782,164.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James Bubeck sold 1,920 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $76.62, for a total transaction of $147,110.40. Following the completion of the transaction, the executive now 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 69,320 shares of company stock valued at $4,669,997 over the last 90 days. 11.00% of the stock is currently owned by corporate insiders.

Cogent Communications Price Performance

Shares of NASDAQ CCOI opened at $64.90 on Thursday. The stock has a market cap of $3.08 billion, a P/E 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. Cogent Communications Holdings, Inc. has a fifty-two week low of $57.35 and a fifty-two week high of $86.00. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.24.

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. The firm had revenue of $272.10 million for 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%. Equities analysts expect that Cogent Communications Holdings, Inc. will post -3.35 EPS 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 given a $0.965 dividend. This represents a $3.86 dividend on an annualized basis and a yield of 5.95%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.96. The ex-dividend date was Thursday, March 14th. Cogent Communications’s dividend payout ratio is 14.43%.

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.