Swiss National Bank Buys 5,500 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Swiss National Bank lifted its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,600 shares of the technology company’s stock after buying an additional 5,500 shares during the quarter. Swiss National Bank’s holdings in Cogent Communications were worth $7,060,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CCOI. Itau Unibanco Holding S.A. bought a new position in shares of Cogent Communications in the 3rd quarter valued at about $30,000. Quest Partners LLC bought a new position in Cogent Communications during the third quarter worth about $46,000. Blue Trust Inc. increased its position in Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after buying an additional 218 shares during the last quarter. BankPlus Trust Department acquired a new position in Cogent Communications during the fourth quarter worth approximately $63,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Cogent Communications by 132.1% in the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company’s stock valued at $67,000 after buying an additional 498 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Cogent Communications Price Performance

Shares of NASDAQ CCOI opened at $68.31 on Friday. The firm has a market cap of $3.35 billion, a P/E ratio of 87.58 and a beta of 0.45. The business’s 50 day moving average is $75.07 and its 200-day moving average is $76.84. 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 Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.31. The firm had revenue of $252.29 million for 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%. Equities research analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.005 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a dividend yield of 5.88%. Cogent Communications’s dividend payout ratio (DPR) is currently -93.49%.

Insider Activity

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $72.57, for a total value of $174,168.00. Following the completion of the transaction, the vice president now owns 41,000 shares of the company’s stock, valued at $2,975,370. This represents a 5.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the sale, the chief financial officer now directly owns 103,000 shares in the company, valued at $7,422,180. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,681 shares of company stock worth $840,878. Corporate insiders own 11.40% of the company’s stock.

Analyst Ratings Changes

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

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.