State of Tennessee Treasury Department Lowers Position in Cogent Communications Holdings, Inc. (CCOI)

State of Tennessee Treasury Department trimmed its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 5.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,455 shares of the technology company’s stock after selling 2,304 shares during the quarter. State of Tennessee Treasury Department owned 0.08% of Cogent Communications Holdings worth $1,783,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aperio Group LLC grew its stake in shares of Cogent Communications Holdings by 1.1% during the 2nd quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock worth $368,000 after acquiring an additional 99 shares in the last quarter. BlackRock Inc. grew its stake in shares of Cogent Communications Holdings by 3.5% during the 2nd quarter. BlackRock Inc. now owns 5,128,950 shares of the technology company’s stock worth $205,670,000 after acquiring an additional 172,987 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Cogent Communications Holdings by 71.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 299,065 shares of the technology company’s stock worth $11,992,000 after acquiring an additional 124,594 shares in the last quarter. Boston Financial Mangement LLC grew its stake in shares of Cogent Communications Holdings by 6.2% during the 3rd quarter. Boston Financial Mangement LLC now owns 359,770 shares of the technology company’s stock worth $17,593,000 after acquiring an additional 21,123 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Cogent Communications Holdings by 78.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,087 shares of the technology company’s stock worth $324,000 after acquiring an additional 3,567 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Shares of Cogent Communications Holdings, Inc. (CCOI) opened at $48.50 on Tuesday. The company has a market capitalization of $2,157.59, a P/E ratio of 130.42, a PEG ratio of 12.25 and a beta of 0.65. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of -8.84. Cogent Communications Holdings, Inc. has a twelve month low of $35.75 and a twelve month high of $54.85.

Cogent Communications Holdings (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.06). The company had revenue of $123.00 million during the quarter, compared to analyst estimates of $123.60 million. Cogent Communications Holdings had a net margin of 3.37% and a negative return on equity of 23.86%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. analysts forecast that Cogent Communications Holdings, Inc. will post 0.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.48 per share. This is an increase from Cogent Communications Holdings’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, November 16th. This represents a $1.92 annualized dividend and a yield of 3.96%. Cogent Communications Holdings’s dividend payout ratio (DPR) is currently 533.33%.

CCOI has been the subject of several research reports. Deutsche Bank AG raised their price target on shares of Cogent Communications Holdings from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research raised shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Monday, October 9th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $48.00 price target on shares of Cogent Communications Holdings in a research note on Monday, September 18th. BidaskClub raised shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $46.00 price target on shares of Cogent Communications Holdings in a research note on Friday, August 4th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Cogent Communications Holdings currently has a consensus rating of “Hold” and an average price target of $43.77.

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In other Cogent Communications Holdings news, VP Henry W. Kilmer sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $46.45, for a total transaction of $139,350.00. Following the completion of the sale, the vice president now owns 36,600 shares of the company’s stock, valued at approximately $1,700,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Raymond B. Kummer sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $45.78, for a total value of $91,560.00. Following the sale, the vice president now directly owns 59,140 shares of the company’s stock, valued at approximately $2,707,429.20. The disclosure for this sale can be found here. Insiders have sold a total of 17,716 shares of company stock valued at $828,227 in the last ninety days. Insiders own 9.48% of the company’s stock.

Cogent Communications Holdings Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Institutional Ownership by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

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