Barclays PLC raised its stake in shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) by 13.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,111 shares of the technology company’s stock after acquiring an additional 6,998 shares during the quarter. Barclays PLC owned approximately 0.12% of Cogent Communications worth $3,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its stake in Cogent Communications by 3,558.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 18,294 shares of the technology company’s stock valued at $1,008,000 after acquiring an additional 17,794 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Cogent Communications by 1.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 235,525 shares of the technology company’s stock worth $12,977,000 after buying an additional 2,663 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Cogent Communications by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 65,460 shares of the technology company’s stock worth $3,607,000 after buying an additional 782 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in shares of Cogent Communications in the 3rd quarter worth about $283,000. Finally, Great Lakes Advisors LLC lifted its position in shares of Cogent Communications by 6.1% in the 3rd quarter. Great Lakes Advisors LLC now owns 102,973 shares of the technology company’s stock worth $5,674,000 after buying an additional 5,898 shares during the last quarter. Hedge funds and other institutional investors own 85.18% of the company’s stock.

A number of research analysts have recently issued reports on CCOI shares. ValuEngine downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. BidaskClub upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada raised their price target on shares of Cogent Communications from $54.00 to $65.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Co restated a “hold” rating on shares of Cogent Communications in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.40.

In related news, Director Lewis H. Ferguson sold 675 shares of Cogent Communications stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $58.28, for a total value of $39,339.00. Following the sale, the director now directly owns 4,430 shares in the company, valued at approximately $258,180.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mike Slessor sold 14,835 shares of Cogent Communications stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $18.03, for a total transaction of $267,475.05. Over the last quarter, insiders sold 28,580 shares of company stock worth $1,103,678. 10.17% of the stock is currently owned by insiders.

Cogent Communications stock opened at $61.83 on Tuesday. The firm’s 50-day moving average is $60.08 and its 200-day moving average is $59.30. Cogent Communications Holdings Inc has a 1 year low of $42.40 and a 1 year high of $64.91. The company has a market cap of $2.94 billion, a P/E ratio of 76.44, a PEG ratio of 9.05 and a beta of 0.57.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.12. The firm had revenue of $136.94 million for the quarter, compared to the consensus estimate of $136.50 million. Cogent Communications had a net margin of 6.91% and a negative return on equity of 21.84%. Cogent Communications’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. As a group, equities analysts expect that Cogent Communications Holdings Inc will post 0.87 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Friday, November 22nd will be given a $0.64 dividend. The ex-dividend date is Thursday, November 21st. This is an increase from Cogent Communications’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a yield of 4.14%. Cogent Communications’s dividend payout ratio (DPR) is currently 406.35%.

About Cogent Communications

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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Institutional Ownership by Quarter for Cogent Communications (NASDAQ:CCOI)

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