BidaskClub lowered shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) from a buy rating to a hold rating in a report issued on Friday.

A number of other brokerages also recently commented on CCOI. Cowen and Company downgraded shares of Cogent Communications Holdings from an outperform rating to a market perform rating and set a $46.00 target price for the company. in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Cogent Communications Holdings from a hold rating to a sell rating in a report on Monday, May 1st. Royal Bank Of Canada reiterated a buy rating and issued a $45.00 target price on shares of Cogent Communications Holdings in a report on Sunday, July 9th. Deutsche Bank AG reiterated a buy rating and issued a $48.00 target price (up from $47.00) on shares of Cogent Communications Holdings in a report on Friday, July 14th. Finally, Off Wall Street initiated coverage on shares of Cogent Communications Holdings in a report on Monday, July 31st. They issued a sell rating and a $29.00 target price for the company. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Cogent Communications Holdings has an average rating of Hold and an average price target of $42.67.

Cogent Communications Holdings (CCOI) opened at 43.20 on Friday. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 127.06 and a beta of 0.74. Cogent Communications Holdings has a one year low of $34.23 and a one year high of $45.25. The firm has a 50-day moving average of $41.28 and a 200 day moving average of $41.63.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. The firm had revenue of $119.80 million during the quarter, compared to the consensus estimate of $120.23 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Equities research analysts predict that Cogent Communications Holdings will post $0.47 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.84 dividend on an annualized basis and a yield of 4.26%. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. Cogent Communications Holdings’s dividend payout ratio is currently 488.89%.

In related news, CFO Thaddeus Gerard Weed sold 2,250 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $43.51, for a total value of $97,897.50. Following the sale, the chief financial officer now owns 72,650 shares in the company, valued at $3,161,001.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $40.20, for a total value of $120,600.00. Following the completion of the sale, the vice president now owns 53,240 shares in the company, valued at approximately $2,140,248. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,433 shares of company stock worth $715,146. 9.48% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can raised its stake in shares of Cogent Communications Holdings by 0.7% in the first quarter. Great West Life Assurance Co. Can now owns 517,181 shares of the technology company’s stock worth $22,267,000 after buying an additional 3,731 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Cogent Communications Holdings by 4.1% in the first quarter. Wells Fargo & Company MN now owns 77,208 shares of the technology company’s stock worth $3,323,000 after buying an additional 3,006 shares in the last quarter. Capital Insight Partners LLC raised its stake in shares of Cogent Communications Holdings by 1.7% in the first quarter. Capital Insight Partners LLC now owns 26,210 shares of the technology company’s stock worth $1,128,000 after buying an additional 436 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Cogent Communications Holdings by 54.7% in the first quarter. Russell Investments Group Ltd. now owns 82,198 shares of the technology company’s stock worth $3,538,000 after buying an additional 29,059 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in shares of Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock worth $122,000 after buying an additional 756 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Cogent Communications Holdings Company 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.

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

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