Wells Fargo & Company lowered shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) from an outperform rating to a market perform rating in a research report released on Monday, MarketBeat Ratings reports. They currently have $48.00 price target on the technology company’s stock, up from their previous price target of $46.00.

A number of other equities analysts have also recently commented on CCOI. Royal Bank Of Canada lifted their target price on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an outperform rating in a research report on Monday, August 7th. Zacks Investment Research cut shares of Cogent Communications Holdings from a hold rating to a sell rating in a research report on Friday, August 4th. Cowen and Company reiterated a hold rating and issued a $42.00 target price on shares of Cogent Communications Holdings in a research report on Friday, July 28th. BidaskClub cut shares of Cogent Communications Holdings from a buy rating to a hold rating in a research report on Friday, August 4th. Finally, Deutsche Bank AG reiterated a buy rating and issued a $48.00 target price (up previously from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $44.23.

Shares of Cogent Communications Holdings (CCOI) opened at 49.90 on Monday. The company has a market cap of $2.23 billion, a PE ratio of 142.57 and a beta of 0.66. The company has a 50 day moving average of $47.62 and a 200 day moving average of $43.32. Cogent Communications Holdings has a 52 week low of $34.45 and a 52 week high of $51.85.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). The company had revenue of $119.80 million for 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 last year, the business posted $0.09 EPS. On average, analysts expect that Cogent Communications Holdings will post $0.47 EPS for the current year.

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In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $41.95, for a total value of $41,950.00. Following the transaction, the vice president now owns 42,052 shares in the company, valued at $1,764,081.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy G. Oneill sold 2,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $48.75, for a total transaction of $97,500.00. Following the completion of the transaction, the vice president now owns 39,052 shares in the company, valued at approximately $1,903,785. The disclosure for this sale can be found here. Insiders sold 31,466 shares of company stock worth $1,422,354 in the last 90 days. Corporate insiders own 9.48% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in shares of Cogent Communications Holdings by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 174,471 shares of the technology company’s stock valued at $7,511,000 after acquiring an additional 524 shares during the period. Aperio Group LLC increased its position in shares of 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 acquiring an additional 99 shares during the period. OppenheimerFunds Inc. increased its position in shares of Cogent Communications Holdings by 35.3% in the first quarter. OppenheimerFunds Inc. now owns 8,785 shares of the technology company’s stock valued at $378,000 after acquiring an additional 2,291 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Cogent Communications Holdings by 0.7% in the first quarter. Parametric Portfolio Associates LLC now owns 146,097 shares of the technology company’s stock valued at $6,289,000 after acquiring an additional 962 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Cogent Communications Holdings by 6.0% in the first quarter. Geode Capital Management LLC now owns 336,917 shares of the technology company’s stock valued at $14,504,000 after acquiring an additional 18,988 shares during the period. Hedge funds and other institutional investors own 93.48% 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.

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

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