Axxcess Wealth Management LLC Buys 685 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Axxcess Wealth Management LLC increased its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,697 shares of the technology company’s stock after purchasing an additional 685 shares during the period. Axxcess Wealth Management LLC’s holdings in Cogent Communications were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CCOI. Harspring Capital Management LLC boosted its holdings in Cogent Communications by 71.1% in the third quarter. Harspring Capital Management LLC now owns 984,000 shares of the technology company’s stock worth $60,910,000 after purchasing an additional 409,000 shares during the last quarter. FMR LLC increased its position in Cogent Communications by 58.9% during the third quarter. FMR LLC now owns 710,612 shares of the technology company’s stock valued at $43,987,000 after acquiring an additional 263,313 shares during the last quarter. Jennison Associates LLC lifted its holdings in Cogent Communications by 46.6% in the fourth quarter. Jennison Associates LLC now owns 828,664 shares of the technology company’s stock valued at $63,028,000 after acquiring an additional 263,276 shares during the period. Global Alpha Capital Management Ltd. purchased a new position in Cogent Communications in the third quarter worth about $14,447,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Cogent Communications during the 4th quarter valued at about $10,424,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cogent Communications

In related news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $73.47, for a total value of $176,328.00. Following the completion of the transaction, the vice president now owns 41,000 shares in the company, valued at $3,012,270. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $73.47, for a total transaction of $176,328.00. Following the transaction, the vice president now owns 41,000 shares in the company, valued at $3,012,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dave Schaeffer sold 26,174 shares of Cogent Communications stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $64.21, for a total transaction of $1,680,632.54. Following the transaction, the chief executive officer now directly owns 4,653,203 shares of the company’s stock, valued at $298,782,164.63. The disclosure for this sale can be found here. Insiders sold 69,320 shares of company stock worth $4,669,997 over the last 90 days. 11.40% of the stock is owned by insiders.

Cogent Communications Trading Down 0.9 %

Cogent Communications stock opened at $63.07 on Wednesday. The firm’s 50 day moving average price is $65.75 and its 200-day moving average price is $69.53. Cogent Communications Holdings, Inc. has a 1 year low of $57.35 and a 1 year high of $86.00. The stock has a market cap of $2.99 billion, a P/E ratio of 2.36 and a beta of 0.39. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.38 and a quick ratio of 1.38.

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

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Friday, March 15th were paid a dividend of $0.965 per share. 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. This represents a $3.86 dividend on an annualized basis and a yield of 6.12%. Cogent Communications’s dividend payout ratio is presently 14.43%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CCOI shares. TD Cowen raised their price objective on shares of Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. KeyCorp raised their target price on Cogent Communications from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Bank of America lowered Cogent Communications from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $75.00 in a report on Thursday, March 7th. StockNews.com cut Cogent Communications from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Finally, TheStreet raised shares of Cogent Communications from a “c+” rating to a “b” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $77.57.

Cogent Communications 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.