Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Blair William & Co. IL

Blair William & Co. IL lessened its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,773 shares of the technology company’s stock after selling 16,539 shares during the period. Blair William & Co. IL owned about 0.43% of Cogent Communications worth $16,090,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Cogent Communications during the 3rd quarter worth approximately $46,000. Charles Schwab Investment Management Inc. raised its position in Cogent Communications by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 497,486 shares of the technology company’s stock worth $37,769,000 after acquiring an additional 21,429 shares during the period. Citigroup Inc. lifted its holdings in Cogent Communications by 56.8% during the third quarter. Citigroup Inc. now owns 56,595 shares of the technology company’s stock valued at $4,297,000 after purchasing an additional 20,510 shares in the last quarter. FMR LLC grew its position in shares of Cogent Communications by 11.0% in the third quarter. FMR LLC now owns 800,758 shares of the technology company’s stock valued at $60,793,000 after purchasing an additional 79,474 shares during the period. Finally, PEAK6 Investments LLC purchased a new stake in shares of Cogent Communications during the third quarter worth about $1,720,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Cogent Communications Stock Performance

CCOI opened at $61.57 on Friday. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76. The firm has a market capitalization of $3.02 billion, a PE ratio of 78.94 and a beta of 0.45. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm’s 50-day moving average price is $74.21 and its 200 day moving average price is $76.53.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The business had revenue of $252.29 million during the quarter, compared to analyst estimates of $258.49 million. As a group, sell-side analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a dividend yield of 6.53%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s payout ratio is currently -93.49%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Cogent Communications news, Director Lewis H. Ferguson sold 956 shares of Cogent Communications stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total value of $66,308.16. Following the sale, the director now owns 18,652 shares in the company, valued at $1,293,702.72. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $72.06, for a total value of $353,094.00. Following the transaction, the chief financial officer now owns 103,000 shares of the company’s stock, valued at approximately $7,422,180. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,681 shares of company stock valued at $840,878. 11.40% of the stock is currently owned by insiders.

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.