Invesco Ltd. Has $39.74 Million Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Invesco Ltd. decreased its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 515,641 shares of the technology company’s stock after selling 89,441 shares during the period. Invesco Ltd. owned approximately 1.05% of Cogent Communications worth $39,740,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in shares of Cogent Communications in the 4th quarter valued at about $46,000. Blue Trust Inc. lifted its stake in Cogent Communications by 53.8% in the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock valued at $47,000 after buying an additional 218 shares during the period. BankPlus Trust Department bought a new position in shares of Cogent Communications during the 4th quarter worth approximately $63,000. Jones Financial Companies Lllp grew its position in shares of Cogent Communications by 132.1% during the 4th quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company’s stock worth $67,000 after buying an additional 498 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Cogent Communications by 212.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,493 shares of the technology company’s stock valued at $113,000 after acquiring an additional 1,015 shares in the last quarter. Institutional investors own 92.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Cogent Communications

In other Cogent Communications news, Director Sheryl Lynn Kennedy sold 1,425 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 owns 10,147 shares in the company, valued at approximately $740,325.12. This trade represents a 12.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, the chief financial officer now directly owns 103,000 shares in the company, valued at approximately $7,422,180. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,681 shares of company stock valued at $840,878. 10.20% of the stock is owned by insiders.

Cogent Communications Stock Down 2.3 %

Cogent Communications stock opened at $52.23 on Thursday. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 66.96 and a beta of 0.69. The firm’s fifty day moving average price is $67.96 and its two-hundred day moving average price is $74.69. Cogent Communications Holdings, Inc. has a 1-year low of $47.54 and a 1-year high of $86.76. 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 (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share 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 net margin of 3.73% and a negative return on equity of 36.31%. On average, equities research analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were issued a dividend of $1.005 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.02 annualized dividend and a yield of 7.70%. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s dividend payout ratio 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.