State of Tennessee Treasury Department held its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,759 shares of the technology company’s stock at the end of the 2nd quarter. State of Tennessee Treasury Department owned about 0.09% of Cogent Communications Holdings worth $1,554,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. lifted its stake in Cogent Communications Holdings by 241.6% in the second quarter. Oppenheimer & Co. Inc. now owns 138,114 shares of the technology company’s stock worth $5,539,000 after acquiring an additional 97,677 shares during the period. Pacad Investment Ltd. purchased a new stake in Cogent Communications Holdings in the second quarter worth about $140,000. Principal Financial Group Inc. lifted its stake in Cogent Communications Holdings by 1.6% in the second quarter. Principal Financial Group Inc. now owns 341,706 shares of the technology company’s stock worth $13,703,000 after acquiring an additional 5,472 shares during the period. River Road Asset Management LLC purchased a new stake in Cogent Communications Holdings in the second quarter worth about $8,800,000. Finally, Victory Capital Management Inc. lifted its stake in Cogent Communications Holdings by 8.1% in the second quarter. Victory Capital Management Inc. now owns 14,659 shares of the technology company’s stock worth $588,000 after acquiring an additional 1,097 shares during the period. 93.48% of the stock is owned by institutional investors.

Cogent Communications Holdings, Inc. (CCOI) opened at 47.90 on Friday. The company has a market capitalization of $2.14 billion, a P/E ratio of 136.86 and a beta of 0.71. Cogent Communications Holdings, Inc. has a one year low of $34.23 and a one year high of $48.80. The firm has a 50-day moving average of $44.45 and a 200-day moving average of $42.31.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings data 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 company had revenue of $119.80 million during the quarter, compared to analysts’ expectations of $120.23 million. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 EPS. On average, analysts anticipate that Cogent Communications Holdings, Inc. will post $0.47 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Wednesday, August 16th. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. Cogent Communications Holdings’s dividend payout ratio (DPR) is presently 511.11%.

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A number of research firms recently weighed in on CCOI. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Cogent Communications Holdings in a research note on Thursday, May 25th. Off Wall Street began coverage on shares of Cogent Communications Holdings in a research note on Monday, July 31st. They issued a “sell” rating and a $29.00 price objective for the company. Cowen and Company reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Cogent Communications Holdings in a research note on Friday, August 4th. BidaskClub lowered shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, 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. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Cogent Communications Holdings presently has an average rating of “Hold” and an average target price of $42.45.

In other news, VP Henry W. Kilmer sold 3,000 shares of Cogent Communications Holdings stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the transaction, the vice president now owns 36,600 shares in the company, valued at approximately $1,700,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thaddeus Gerard Weed sold 2,250 shares of Cogent Communications Holdings stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $43.51, for a total value of $97,897.50. Following the completion of the transaction, the chief financial officer now owns 72,650 shares of the company’s stock, valued at approximately $3,161,001.50. The disclosure for this sale can be found here. Insiders sold a total of 30,466 shares of company stock valued at $1,365,104 in the last quarter. Company insiders own 9.48% of the company’s stock.

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.

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

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