4,215 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Purchased by waypoint wealth counsel

waypoint wealth counsel purchased a new position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,215 shares of the technology company’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently bought and sold shares of CCOI. Truist Financial Corp grew its stake in Cogent Communications by 5.9% during the 4th quarter. Truist Financial Corp now owns 4,221 shares of the technology company’s stock valued at $321,000 after acquiring an additional 237 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Cogent Communications by 17.2% during the 1st quarter. Covestor Ltd now owns 1,880 shares of the technology company’s stock valued at $123,000 after buying an additional 276 shares during the last quarter. Strs Ohio lifted its holdings in Cogent Communications by 16.7% in the 4th quarter. Strs Ohio now owns 2,100 shares of the technology company’s stock worth $159,000 after purchasing an additional 300 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in Cogent Communications by 109.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company’s stock worth $48,000 after purchasing an additional 333 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in Cogent Communications by 313.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company’s stock worth $38,000 after purchasing an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Insider Activity

In other news, Director Lewis H. Ferguson sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $58.90, for a total transaction of $117,800.00. Following the transaction, the director now owns 17,623 shares of the company’s stock, valued at $1,037,994.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cogent Communications news, CEO Dave Schaeffer sold 60,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $54.60, for a total value of $3,276,000.00. Following the transaction, the chief executive officer now owns 4,493,038 shares of the company’s stock, valued at $245,319,874.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lewis H. Ferguson sold 2,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $58.90, for a total value of $117,800.00. Following the completion of the transaction, the director now directly owns 17,623 shares in the company, valued at approximately $1,037,994.70. The disclosure for this sale can be found here. Insiders have sold 128,440 shares of company stock valued at $6,856,016 over the last 90 days. 11.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CCOI. TD Cowen boosted their target price on Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, August 9th. StockNews.com lowered Cogent Communications from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. The Goldman Sachs Group upped their price target on Cogent Communications from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $74.00 price target on shares of Cogent Communications in a report on Monday, July 29th. Finally, Bank of America upped their price target on Cogent Communications from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.86.

Cogent Communications Price Performance

NASDAQ:CCOI traded down $0.04 during trading hours on Friday, reaching $73.46. The company had a trading volume of 312,910 shares, compared to its average volume of 465,695. The stock has a 50-day moving average of $61.66 and a two-hundred day moving average of $64.71. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.00. The firm has a market capitalization of $3.60 billion, a PE ratio of 2.91 and a beta of 0.41. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.80.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($1.27) by $0.59. The company had revenue of $260.40 million for the quarter, compared to analysts’ expectations of $264.32 million. Cogent Communications had a negative return on equity of 24.63% and a net margin of 114.09%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Analysts forecast that Cogent Communications Holdings, Inc. will post -4.81 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.985 per share. This represents a $3.94 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend is Thursday, August 22nd. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.98. Cogent Communications’s dividend payout ratio is 15.61%.

About Cogent Communications

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.