Ipswich Investment Management Co. Inc. Has $3.12 Million Stock Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Ipswich Investment Management Co. Inc. boosted its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,079 shares of the technology company’s stock after buying an additional 185 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Cogent Communications were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CCOI. Janney Montgomery Scott LLC lifted its position in shares of Cogent Communications by 25.7% in the first quarter. Janney Montgomery Scott LLC now owns 12,021 shares of the technology company’s stock worth $785,000 after purchasing an additional 2,454 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Cogent Communications by 265.9% during the 1st quarter. SG Americas Securities LLC now owns 7,805 shares of the technology company’s stock valued at $510,000 after buying an additional 5,672 shares during the period. Sei Investments Co. grew its holdings in shares of Cogent Communications by 1.3% during the 1st quarter. Sei Investments Co. now owns 92,427 shares of the technology company’s stock valued at $6,038,000 after acquiring an additional 1,200 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Cogent Communications by 55.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 23,015 shares of the technology company’s stock worth $1,467,000 after acquiring an additional 8,223 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Cogent Communications during the first quarter worth $494,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCOI has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Citigroup boosted their price target on Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 19th. KeyCorp raised their price objective on shares of Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Bank of America lowered shares of Cogent Communications from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $75.00 to $65.00 in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group lifted their price objective on shares of Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Two equities research 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $80.25.

Cogent Communications Stock Up 2.0 %

CCOI stock opened at $79.40 on Friday. The business’s 50-day simple moving average is $78.20 and its 200 day simple moving average is $68.12. The company has a market cap of $3.89 billion, a PE ratio of 101.79 and a beta of 0.40. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76. 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 (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.01. The firm had revenue of $257.20 million during the quarter, compared to analyst estimates of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.13) earnings per share. On average, research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.54 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, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.995 dividend. The ex-dividend date is Friday, November 22nd. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.99. This represents a $3.98 dividend on an annualized basis and a yield of 5.01%. Cogent Communications’s payout ratio is 505.13%.

Insider Transactions at Cogent Communications

In other Cogent Communications news, Director Sheryl Lynn Kennedy sold 1,350 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.58, for a total transaction of $108,783.00. Following the transaction, the director now directly owns 10,318 shares in the company, valued at approximately $831,424.44. This represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dave Schaeffer sold 60,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $72.82, for a total value of $4,369,200.00. Following the completion of the sale, the chief executive officer now owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,500 shares of company stock valued at $5,008,175. Corporate insiders own 11.40% of the company’s stock.

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.