Intech Investment Management LLC Purchases 23,534 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Intech Investment Management LLC increased its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 139.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,442 shares of the technology company’s stock after purchasing an additional 23,534 shares during the quarter. Intech Investment Management LLC’s holdings in Cogent Communications were worth $3,117,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCOI. Itau Unibanco Holding S.A. bought a new position in shares of Cogent Communications during the third quarter valued at $30,000. Quest Partners LLC bought a new position in shares of Cogent Communications during the third quarter valued at $46,000. Blue Trust Inc. lifted its holdings in shares of Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock valued at $47,000 after acquiring an additional 218 shares during the period. BankPlus Trust Department bought a new position in shares of Cogent Communications during the fourth quarter valued at $63,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Cogent Communications by 132.1% during the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company’s stock valued at $67,000 after acquiring an additional 498 shares during the period. 92.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Cogent Communications to a “sell” rating in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $80.25.

Insider Buying and Selling

In related news, Director Sheryl Lynn Kennedy sold 1,425 shares of Cogent Communications stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.96, for a total value of $103,968.00. Following the completion of the sale, the director now directly owns 10,147 shares in the company, valued at $740,325.12. This trade represents a 12.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lewis H. Ferguson sold 956 shares of Cogent Communications stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total value of $66,308.16. Following the completion of the sale, the director now owns 18,652 shares of the company’s stock, valued at approximately $1,293,702.72. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,681 shares of company stock worth $840,878 over the last three months. 11.40% of the stock is currently owned by company insiders.

Cogent Communications Stock Performance

Cogent Communications stock opened at $70.51 on Thursday. The stock has a 50-day simple moving average of $75.23 and a 200 day simple moving average of $76.85. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. 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 $3.48 billion, a price-to-earnings ratio of 90.40 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. The business had revenue of $252.29 million during the quarter, compared to analysts’ expectations of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. On average, research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a yield of 5.70%. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 13th. Cogent Communications’s dividend payout ratio (DPR) is presently -93.49%.

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.