Copeland Capital Management LLC Sells 199,375 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Copeland Capital Management LLC decreased its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 20.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 759,279 shares of the technology company’s stock after selling 199,375 shares during the period. Copeland Capital Management LLC’s holdings in Cogent Communications were worth $57,645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CCOI. Thrivent Financial for Lutherans lifted its holdings in Cogent Communications by 2,739.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,035,261 shares of the technology company’s stock worth $58,430,000 after buying an additional 998,796 shares during the period. EdgePoint Investment Group Inc. lifted its stake in shares of Cogent Communications by 500.1% in the first quarter. EdgePoint Investment Group Inc. now owns 1,051,568 shares of the technology company’s stock worth $68,699,000 after acquiring an additional 876,326 shares during the period. Capital World Investors boosted its holdings in Cogent Communications by 327.7% in the first quarter. Capital World Investors now owns 981,623 shares of the technology company’s stock valued at $64,129,000 after acquiring an additional 752,133 shares during the last quarter. M&G Plc acquired a new stake in Cogent Communications during the 1st quarter valued at approximately $27,942,000. Finally, Senator Investment Group LP increased its position in Cogent Communications by 83.0% during the 1st quarter. Senator Investment Group LP now owns 666,768 shares of the technology company’s stock valued at $43,560,000 after purchasing an additional 302,365 shares during the period. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP John B. Chang sold 1,400 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.67, for a total transaction of $100,338.00. Following the completion of the sale, the vice president now directly owns 71,580 shares of the company’s stock, valued at $5,130,138.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cogent Communications news, CEO Dave Schaeffer sold 60,000 shares of Cogent Communications stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $72.82, for a total transaction of $4,369,200.00. Following the transaction, the chief executive officer now directly owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John B. Chang sold 1,400 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.67, for a total transaction of $100,338.00. Following the completion of the sale, the vice president now owns 71,580 shares of the company’s stock, valued at approximately $5,130,138.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,870 shares of company stock worth $4,716,057. Insiders own 11.40% of the company’s stock.

Cogent Communications Stock Performance

Shares of CCOI opened at $84.50 on Tuesday. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.00. The company has a market cap of $4.14 billion, a PE ratio of 3.35 and a beta of 0.41. The stock has a 50-day moving average of $74.44 and a 200-day moving average of $65.71. The company has a debt-to-equity ratio of 4.43, a current ratio of 2.20 and a quick ratio of 2.20.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.59. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The firm had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $264.32 million. During the same quarter last year, the firm posted ($0.13) earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts predict that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.985 per share. This represents a $3.94 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Thursday, August 22nd. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.98. Cogent Communications’s payout ratio is 15.61%.

Analyst Ratings Changes

CCOI has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. TD Cowen boosted their target price on shares of Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a report on Friday, August 9th. KeyCorp increased their price target on Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Citigroup boosted their price objective on Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Finally, Bank of America lowered Cogent Communications from a “neutral” rating to an “underperform” rating and cut their target price for the company from $75.00 to $65.00 in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Cogent Communications presently has a consensus rating of “Hold” and a consensus price target of $77.14.

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.