Analysts Set Cogent Communications Holdings, Inc. (NASDAQ:CCOI) PT at $80.25

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) has earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $80.25.

Separately, StockNews.com raised shares of Cogent Communications to a “sell” rating in a research report on Monday, March 3rd.

Insider Transactions at Cogent Communications

In other Cogent Communications news, Director Lewis H. Ferguson sold 956 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $69.36, for a total value of $66,308.16. Following the transaction, the director now directly owns 18,652 shares of the company’s stock, valued at approximately $1,293,702.72. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the sale, the chief financial officer now directly owns 103,000 shares of the company’s stock, valued at approximately $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. Insiders have sold 11,681 shares of company stock valued at $840,878 over the last ninety days. 11.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cogent Communications

Institutional investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co lifted its stake in Cogent Communications by 0.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 52,679 shares of the technology company’s stock valued at $4,055,000 after acquiring an additional 156 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Cogent Communications by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company’s stock valued at $400,000 after purchasing an additional 212 shares in the last quarter. Blue Trust Inc. boosted its holdings 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 purchasing an additional 218 shares during the last quarter. Royce & Associates LP grew its position in Cogent Communications by 0.6% in the 4th quarter. Royce & Associates LP now owns 33,883 shares of the technology company’s stock worth $2,611,000 after purchasing an additional 218 shares in the last quarter. Finally, Itau Unibanco Holding S.A. increased its stake in Cogent Communications by 58.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company’s stock valued at $48,000 after buying an additional 229 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.

Cogent Communications Stock Up 0.1 %

Shares of CCOI opened at $61.57 on Friday. The company has a market capitalization of $3.02 billion, a PE ratio of 78.94 and a beta of 0.45. The stock’s 50-day moving average price is $74.21 and its two-hundred day moving average price is $76.61. 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 has a 12 month low of $50.80 and a 12 month high of $86.76.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.31. The business 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%. On average, analysts anticipate that Cogent Communications will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s dividend payout ratio (DPR) is -93.49%.

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.