Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) hit a new 52-week high during trading on Monday . The stock traded as high as $46.70 and last traded at $46.70, with a volume of 300,645 shares trading hands. The stock had previously closed at $46.60.

CCOI has been the subject of several recent research reports. Off Wall Street initiated coverage on shares of Cogent Communications Holdings in a research report on Monday, July 31st. They set a “sell” rating and a $29.00 target price for the company. BidaskClub cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of Cogent Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Royal Bank Of Canada restated a “buy” rating and issued a $45.00 price objective on shares of Cogent Communications Holdings in a research report on Thursday, May 25th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $48.00 price objective (up previously from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $42.45.

The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 133.43 and a beta of 0.71. The company’s 50 day moving average price is $43.56 and its 200-day moving average price is $41.99.

Cogent Communications Holdings (NASDAQ:CCOI) last released its earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.02. The firm had revenue of $119.80 million during the quarter, compared to analyst estimates of $120.23 million. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. Cogent Communications Holdings’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 EPS. On average, equities analysts expect that Cogent Communications Holdings, Inc. will post $0.48 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $0.46 dividend. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, August 16th. This represents a $1.84 annualized dividend and a yield of 3.94%. Cogent Communications Holdings’s payout ratio is presently 511.11%.

In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 1,000 shares of Cogent Communications Holdings stock in a transaction on Friday, September 1st. The shares were sold at an average price of $46.60, for a total value of $46,600.00. Following the completion of the sale, the vice president now directly owns 41,052 shares of the company’s stock, valued at $1,913,023.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Thaddeus Gerard Weed sold 2,250 shares of Cogent Communications Holdings stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $40.76, for a total transaction of $91,710.00. Following the completion of the sale, the chief financial officer now directly owns 74,900 shares of the company’s stock, valued at $3,052,924. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,383 shares of company stock worth $959,925. 9.48% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC increased its stake in Cogent Communications Holdings by 0.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 7,186 shares of the technology company’s stock valued at $288,000 after purchasing an additional 38 shares in the last quarter. Pinebridge Investments L.P. increased its stake in Cogent Communications Holdings by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,395 shares of the technology company’s stock valued at $217,000 after purchasing an additional 53 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Cogent Communications Holdings by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 4,520 shares of the technology company’s stock valued at $194,000 after purchasing an additional 80 shares in the last quarter. Aperio Group LLC increased its stake in Cogent Communications Holdings by 1.1% in the second quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock valued at $368,000 after purchasing an additional 99 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Cogent Communications Holdings by 0.5% in the second quarter. Arizona State Retirement System now owns 21,400 shares of the technology company’s stock valued at $858,000 after purchasing an additional 100 shares in the last quarter. 93.54% of the stock is owned by hedge funds and other institutional investors.

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About Cogent Communications Holdings

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.