Oppenheimer & Co. Inc. Purchases 786 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Oppenheimer & Co. Inc. increased its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 1.6% during the third quarter, HoldingsChannel reports. The fund owned 50,110 shares of the technology company’s stock after buying an additional 786 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cogent Communications were worth $3,804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors boosted its stake in shares of Cogent Communications by 327.7% during the first quarter. Capital World Investors now owns 981,623 shares of the technology company’s stock valued at $64,129,000 after purchasing an additional 752,133 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Cogent Communications by 289.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,020 shares of the technology company’s stock worth $566,000 after buying an additional 7,448 shares during the period. Westwood Holdings Group Inc. grew its holdings in Cogent Communications by 16.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 738,664 shares of the technology company’s stock worth $48,257,000 after acquiring an additional 105,164 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Cogent Communications by 55.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 23,015 shares of the technology company’s stock valued at $1,467,000 after acquiring an additional 8,223 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Cogent Communications during the second quarter valued at $514,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Cogent Communications Trading Up 2.0 %

NASDAQ:CCOI opened at $79.40 on Friday. The firm has a fifty day simple moving average of $78.20 and a two-hundred day simple moving average of $68.12. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 101.79 and a beta of 0.40. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.34) by $0.01. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company had revenue of $257.20 million during the quarter, compared to the consensus estimate of $258.69 million. During the same period last year, the business posted ($1.13) EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts expect that Cogent Communications Holdings, Inc. will post -4.54 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.995 per share. This represents a $3.98 dividend on an annualized basis and a dividend yield of 5.01%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Friday, November 22nd. Cogent Communications’s dividend payout ratio is presently 505.13%.

Insider Buying and Selling

In other Cogent Communications news, Director Sheryl Lynn Kennedy sold 1,350 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.58, for a total transaction of $108,783.00. Following the completion of the sale, the director now directly owns 10,318 shares of the company’s stock, valued at approximately $831,424.44. The trade was a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $69.77, for a total value of $133,958.40. Following the completion of the transaction, the executive now owns 50,982 shares in the company, valued at $3,557,014.14. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,500 shares of company stock worth $5,008,175 in the last ninety days. Corporate insiders own 11.40% of the company’s stock.

Analysts Set New Price Targets

CCOI has been the subject of a number of recent research reports. Bank of America downgraded Cogent Communications from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $75.00 to $65.00 in a report on Wednesday, August 21st. KeyCorp increased their price target on Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group lifted their price objective on Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Citigroup increased their target price on shares of Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, UBS Group initiated coverage on shares of Cogent Communications in a research report on Thursday. They issued a “buy” rating and a $102.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cogent Communications has a consensus rating of “Hold” and an average price target of $80.25.

Cogent Communications Company 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.