Analyst consensus gives Cogent Communications Holdings, Inc. (NASDAQ:CCOI) a Hold rating. | Wbactive

Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Rating) has been given an average rating of “Hold” from the 11 brokers currently covering the stock, reports Marketbeat Ratings. Two equity analysts have rated the stock with a sell rating, two with a hold rating and three with a buy rating. The average 1-year target price among brokers that have issued reports on the stock in the last year is $65.00.

A number of brokers have recently commented on CCOI. StockNews.com began coverage on Cogent Communications shares on Wednesday, October 12th in a research report. You give the stock a “hold” rating. Moffett Nathanson raised his target price on Cogent Communications to $93.00 in a report Thursday. KeyCorp upgraded Cogent Communications from a “sector weight” rating to an “overweight” rating in a research note on Tuesday, September 27, and set a price target of $64.00 for the stock. Wells Fargo & Company lowered its price target on Cogent Communications to $53.00 from $55.00 and ranked the company as “underweight” in a research note on Friday, November 4. Finally, the Goldman Sachs Group lowered its price target on Cogent Communications to $43.00 from $49.00 and put a sell rating on the stock in a report on Monday, November 7th.

Insider activity at Cogent Communications

In other news, VP Raymond B. Kummer sold 4,800 shares of Cogent Communications in a transaction on Wednesday, November 16th. The stock sold at an average price of $58.01 for a total value of $278,448.00. Following the transaction, the Vice President now directly owns 50,400 shares of the company valued at $2,923,704. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also on Wednesday, November 16, Vice President Raymond B. Kummer sold 4,800 shares of the company’s stock in a transaction. The shares were sold at an average price of $58.01 for a total value of $278,448.00. Following the sale, the Vice President now owns 50,400 shares of the company, valued at $2,923,704. The sale was disclosed in a filing with the SEC available at this hyperlink. In addition, Director Marc Montagner purchased 10,000 shares of the company’s stock in a transaction that took place on Wednesday, November 9th. The shares were purchased at an average price of $54.88 per share for a total transaction of $548,800.00. Following the transaction, the Director now directly owns 71,212 shares of the Company, valued at approximately $3,908,114.56. The disclosure for this purchase can be found here. Over the past three months, insiders have sold 10,590 shares of the company’s shares for $584,168. 11.00% of the shares are owned by insiders.

Institutional Trading by Cogent Communications

Institutional investors and hedge funds recently changed their holdings in the company. BlackRock Inc. added 2.1% to its position in Cogent Communications in the third quarter. BlackRock Inc. now owns 7,390,862 shares of the technology company’s stock valued at $385,506,000 after purchasing an additional 149,238 shares last quarter. Vanguard Group Inc. increased its holdings of Cogent Communications stock by 1.8% in the third quarter. Vanguard Group Inc. now owns 5,172,729 shares of the technology company’s stock valued at $269,811,000 after purchasing an additional 90,137 shares last quarter. Renaissance Technologies LLC increased its position in Cogent Communications shares by 6.8% during the second quarter. Renaissance Technologies LLC now owns 2,312,056 shares of the technology company’s stock valued at $140,481,000 after purchasing an additional 147,700 shares during this period. Vaughan Nelson Investment Management LP increased its stake in Cogent Communications by 10.1% in the second quarter. Vaughan Nelson Investment Management LP now owns 1,966,077 shares of the technology company, valued at $119,459,000, after purchasing an additional 179,771 shares last quarter. Finally, State Street Corp added 2.8% to its position in Cogent Communications during the second quarter. State Street Corp now owns 1,754,375 shares of the technology company’s stock valued at $106,596,000 after purchasing an additional 48,110 shares during the period. 86.84% of the shares are currently owned by institutional investors.

Cogent Communications Trading up 1.9%

NASDAQ CCOI shares opened at $58.25 on Friday. The company has a market cap of $2.80 billion, a PE ratio of 121.36, a PEG ratio of 8.83 and a beta of 0.33. Cogent Communications has a yearly low of $46.75 and a yearly high of $80.06. The company has a 50-day moving average price of $53.23 and a 200-day moving average price of $57.12.

Cogent Communications raises dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18 will receive a dividend of $0.915. This is a positive change from Cogent Communications’ previous quarterly dividend of $0.91. The ex-dividend date is Thursday November 17th. That equates to a dividend of $3.66 on an annualized basis and a dividend yield of 6.28%. Cogent Communications’ dividend payout ratio (DPR) is currently 754.18%.

About Cogent Communications

(received rating)

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private networking and colocation space services to data centers in North America, Europe, Asia, South America, Australia and Africa. The Company provides Internet access and private network services to law firms, financial services companies, advertising, marketing and healthcare providers, educational institutions and other professional services companies, other Internet service providers, telephone companies and cable networks to television companies, web hosting companies, media service providers, mobile operators, content delivery network companies and providers of commercial content and application services.

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Analyst Recommendations for Cogent Communications (NASDAQ:CCOI)

This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

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