Yousif Capital Management LLC Purchases 497 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Yousif Capital Management LLC increased its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 22,104 shares of the technology company’s stock after buying an additional 497 shares during the quarter. Yousif Capital Management LLC’s holdings in Cogent Communications were worth $1,681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ellsworth Advisors LLC boosted its holdings in shares of Cogent Communications by 2.5% in the 4th quarter. Ellsworth Advisors LLC now owns 5,932 shares of the technology company’s stock worth $451,000 after buying an additional 147 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Cogent Communications by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 12,379 shares of the technology company’s stock worth $766,000 after buying an additional 156 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in shares of Cogent Communications by 1.3% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 19,229 shares of the technology company’s stock worth $1,190,000 after buying an additional 255 shares during the last quarter. Strs Ohio boosted its holdings in shares of Cogent Communications by 20.0% in the 3rd quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock worth $111,000 after buying an additional 300 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Cogent Communications by 895.0% during the third quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company’s stock valued at $25,000 after purchasing an additional 358 shares during the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

Cogent Communications Trading Up 1.1 %

Shares of Cogent Communications stock opened at $64.90 on Thursday. Cogent Communications Holdings, Inc. has a 12-month low of $57.35 and a 12-month high of $86.00. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 2.43 and a beta of 0.39. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.24. The company’s 50-day moving average price is $67.25 and its 200-day moving average price is $69.55.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.79. Cogent Communications had a net margin of 135.34% and a negative return on equity of 23.66%. The firm had revenue of $272.10 million for the quarter, compared to the consensus estimate of $275.82 million. On average, equities analysts expect that Cogent Communications Holdings, Inc. will post -3.35 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Friday, March 15th were issued a $0.965 dividend. This represents a $3.86 dividend on an annualized basis and a dividend yield of 5.95%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Thursday, March 14th. Cogent Communications’s dividend payout ratio is presently 14.43%.

Analyst Upgrades and Downgrades

CCOI has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Cogent Communications from $74.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. TD Cowen upped their price objective on shares of Cogent Communications from $81.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Bank of America downgraded shares of Cogent Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $75.00 in a report on Thursday, March 7th. StockNews.com downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Finally, KeyCorp upped their price objective on shares of Cogent Communications from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Cogent Communications has an average rating of “Hold” and an average target price of $77.57.

Insider Transactions at Cogent Communications

In related news, CEO Dave Schaeffer sold 8,826 shares of the company’s 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 transaction, the chief executive officer now directly owns 4,815,764 shares in the company, valued at $349,383,678.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Dave Schaeffer sold 8,826 shares of the company’s 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 transaction, the chief executive officer now directly owns 4,815,764 shares in the company, valued at $349,383,678.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $76.62, for a total transaction of $147,110.40. Following the completion of the transaction, the executive now owns 54,822 shares in the company, valued at $4,200,461.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,320 shares of company stock valued at $4,669,997. 11.00% of the stock is currently owned by corporate 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.