Cogent Communications Holdings Inc (NASDAQ:CCOI) VP Timothy G. Oneill sold 400 shares of Cogent Communications stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $66.35, for a total value of $26,540.00. Following the completion of the transaction, the vice president now owns 31,200 shares of the company’s stock, valued at approximately $2,070,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of Cogent Communications stock opened at $63.82 on Friday. Cogent Communications Holdings Inc has a 12 month low of $53.46 and a 12 month high of $92.96. The business has a fifty day simple moving average of $71.01 and a 200 day simple moving average of $78.38. The stock has a market cap of $3.02 billion, a PE ratio of 75.98, a price-to-earnings-growth ratio of 9.83 and a beta of 0.05.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). Cogent Communications had a negative return on equity of 20.17% and a net margin of 6.97%. The company had revenue of $140.99 million for the quarter, compared to analyst estimates of $143.29 million. During the same period last year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, research analysts predict that Cogent Communications Holdings Inc will post 0.9 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were paid a dividend of $0.705 per share. The ex-dividend date of this dividend was Thursday, August 20th. This is a boost from Cogent Communications’s previous quarterly dividend of $0.68. This represents a $2.82 dividend on an annualized basis and a dividend yield of 4.42%. Cogent Communications’s payout ratio is 371.05%.

Several equities analysts have issued reports on CCOI shares. Credit Suisse Group cut their price objective on Cogent Communications from $99.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. SunTrust Banks raised Cogent Communications from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Wednesday, July 1st. BidaskClub raised Cogent Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Citigroup lowered their target price on Cogent Communications from $96.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Finally, Moffett Nathanson raised Cogent Communications from a “sell” rating to a “neutral” rating and lowered their target price for the company from $64.00 to $63.00 in a research note on Monday, August 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cogent Communications presently has a consensus rating of “Hold” and a consensus target price of $81.00.

Several institutional investors have recently made changes to their positions in the stock. Copper Rock Capital Partners LLC acquired a new stake in shares of Cogent Communications during the second quarter worth $472,846,000. State Street Corp lifted its stake in Cogent Communications by 6.5% in the first quarter. State Street Corp now owns 1,326,226 shares of the technology company’s stock worth $108,711,000 after purchasing an additional 80,921 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Cogent Communications by 138.2% in the first quarter. Nuveen Asset Management LLC now owns 783,475 shares of the technology company’s stock worth $64,221,000 after purchasing an additional 454,603 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Cogent Communications by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 714,921 shares of the technology company’s stock worth $58,603,000 after purchasing an additional 19,562 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Cogent Communications in the first quarter worth $52,629,000. 96.29% of the stock is owned by institutional investors and hedge funds.

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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