Copeland Capital Management LLC Sells 27,303 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Copeland Capital Management LLC lowered its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 941,836 shares of the technology company’s stock after selling 27,303 shares during the period. Cogent Communications comprises about 1.4% of Copeland Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Copeland Capital Management LLC owned 1.94% of Cogent Communications worth $71,636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CCOI. Raymond James & Associates grew its holdings in shares of Cogent Communications by 50.3% during the 1st quarter. Raymond James & Associates now owns 27,448 shares of the technology company’s stock valued at $1,821,000 after purchasing an additional 9,180 shares during the last quarter. Citigroup Inc. lifted its position in shares of Cogent Communications by 6.8% in the 1st quarter. Citigroup Inc. now owns 51,289 shares of the technology company’s stock worth $3,402,000 after purchasing an additional 3,265 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Cogent Communications by 31.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,991 shares of the technology company’s stock worth $264,000 after purchasing an additional 950 shares during the period. MetLife Investment Management LLC lifted its position in shares of Cogent Communications by 47.9% in the 1st quarter. MetLife Investment Management LLC now owns 22,270 shares of the technology company’s stock worth $1,478,000 after purchasing an additional 7,213 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in shares of Cogent Communications by 35.5% in the 1st quarter. Panagora Asset Management Inc. now owns 12,424 shares of the technology company’s stock worth $824,000 after purchasing an additional 3,258 shares during the period. Institutional investors own 92.45% of the company’s stock.

Cogent Communications Stock Up 0.8 %

NASDAQ:CCOI opened at $65.33 on Friday. The firm has a market cap of $3.10 billion, a P/E ratio of 2.44 and a beta of 0.41. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.38 and a current ratio of 1.38. Cogent Communications Holdings, Inc. has a fifty-two week low of $57.35 and a fifty-two week high of $86.00. The firm has a 50-day simple moving average of $72.57 and a two-hundred day simple moving average of $69.52.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, February 29th. The technology company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.79. The business had revenue of $272.10 million during the quarter, compared to analyst estimates of $275.82 million. Cogent Communications had a net margin of 135.34% and a negative return on equity of 23.66%. Analysts predict that Cogent Communications Holdings, Inc. will post -3.32 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Friday, March 15th will be paid a $0.965 dividend. The ex-dividend date is Thursday, March 14th. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.96. This represents a $3.86 dividend on an annualized basis and a dividend yield of 5.91%. Cogent Communications’s payout ratio is currently 14.43%.

Analysts Set New Price Targets

CCOI has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Cogent Communications from $74.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Bank of America cut shares of Cogent Communications from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $75.00 in a research report on Thursday, March 7th. KeyCorp lifted their price target on shares of Cogent Communications from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. TheStreet raised shares of Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. Finally, TD Cowen lifted their price target on shares of Cogent Communications from $81.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cogent Communications presently has a consensus rating of “Hold” and a consensus price target of $77.57.

Insider Transactions at Cogent Communications

In other news, CEO Dave Schaeffer sold 8,826 shares of Cogent Communications stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $72.55, for a total value of $640,326.30. Following the completion of the sale, the chief executive officer now directly owns 4,815,764 shares in the company, valued at $349,383,678.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $73.47, for a total value of $176,328.00. Following the completion of the sale, the vice president now directly owns 41,000 shares in the company, valued at $3,012,270. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dave Schaeffer sold 8,826 shares of Cogent Communications stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $72.55, for a total transaction of $640,326.30. Following the completion of the sale, the chief executive officer now owns 4,815,764 shares of the company’s stock, valued at $349,383,678.20. The disclosure for this sale can be found here. Insiders sold 69,320 shares of company stock worth $4,669,997 over the last three months. 11.40% of the stock is currently owned by company insiders.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.