Great West Life Assurance Co. Can Sells 165,553 Shares of Cogent Communications Holdings Inc (CCOI)

Great West Life Assurance Co. Can trimmed its holdings in shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) by 75.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 54,460 shares of the technology company’s stock after selling 165,553 shares during the period. Great West Life Assurance Co. Can owned approximately 0.12% of Cogent Communications worth $3,034,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Cogent Communications by 3.6% in the 3rd quarter. BlackRock Inc. now owns 6,654,760 shares of the technology company’s stock worth $371,336,000 after acquiring an additional 232,879 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Cogent Communications by 9.5% in the 2nd quarter. Renaissance Technologies LLC now owns 3,289,400 shares of the technology company’s stock worth $175,654,000 after acquiring an additional 285,400 shares during the last quarter. Brown Advisory Inc. raised its holdings in Cogent Communications by 4.4% in the 2nd quarter. Brown Advisory Inc. now owns 2,102,017 shares of the technology company’s stock worth $112,247,000 after acquiring an additional 87,707 shares during the last quarter. First Trust Advisors LP raised its holdings in Cogent Communications by 9.5% in the 3rd quarter. First Trust Advisors LP now owns 2,026,730 shares of the technology company’s stock worth $113,092,000 after acquiring an additional 175,601 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Cogent Communications by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,355,882 shares of the technology company’s stock worth $72,405,000 after acquiring an additional 3,782 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada set a $48.00 price objective on shares of Cogent Communications and gave the stock a “hold” rating in a report on Tuesday, November 13th. BidaskClub lowered shares of Cogent Communications from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Wells Fargo & Co boosted their price objective on shares of Cogent Communications from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, November 2nd. Citigroup boosted their price objective on shares of Cogent Communications from $39.00 to $42.00 and gave the stock a “sell” rating in a report on Friday, November 2nd. Finally, Zacks Investment Research upgraded shares of Cogent Communications from a “sell” rating to a “hold” rating and set a $61.00 price objective for the company in a report on Monday, October 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Cogent Communications has an average rating of “Hold” and a consensus price target of $50.71.

Shares of CCOI opened at $46.76 on Friday. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 80.62, a P/E/G ratio of 8.86 and a beta of 0.55. Cogent Communications Holdings Inc has a 1-year low of $35.75 and a 1-year high of $57.65.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, November 1st. The technology company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $130.00 million during the quarter, compared to analyst estimates of $132.09 million. Cogent Communications had a net margin of 2.99% and a negative return on equity of 24.22%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. As a group, equities research analysts predict that Cogent Communications Holdings Inc will post 0.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were paid a dividend of $0.56 per share. The ex-dividend date was Thursday, November 15th. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.54. This represents a $2.24 dividend on an annualized basis and a yield of 4.79%. Cogent Communications’s payout ratio is currently 589.47%.

In other news, VP Robert N. Beury, Jr. sold 3,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $49.16, for a total transaction of $147,480.00. Following the completion of the sale, the vice president now owns 38,840 shares of the company’s stock, valued at approximately $1,909,374.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $55.80, for a total transaction of $55,800.00. Following the sale, the vice president now directly owns 38,652 shares of the company’s stock, valued at approximately $2,156,781.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,300 shares of company stock valued at $649,275. Company insiders own 10.21% of the company’s stock.

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About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.

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

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