Nisa Investment Advisors LLC Lowers Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Nisa Investment Advisors LLC lowered its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 20.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,803 shares of the technology company’s stock after selling 3,792 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cogent Communications were worth $1,126,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Insight Partners LLC lifted its holdings in Cogent Communications by 1.7% in the fourth quarter. Capital Insight Partners LLC now owns 58,211 shares of the technology company’s stock valued at $4,428,000 after acquiring an additional 945 shares during the period. Fifth Third Bancorp raised its stake in shares of Cogent Communications by 56.7% during the 4th quarter. Fifth Third Bancorp now owns 2,026 shares of the technology company’s stock worth $154,000 after buying an additional 733 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Cogent Communications during the 4th quarter worth $245,000. Ellsworth Advisors LLC raised its stake in shares of Cogent Communications by 2.5% during 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. Finally, Cornell Pochily Investment Advisors Inc. raised its stake in shares of Cogent Communications by 21.3% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 6,495 shares of the technology company’s stock worth $494,000 after buying an additional 1,140 shares during the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Cogent Communications Trading Up 0.0 %

Shares of CCOI stock opened at $63.03 on Tuesday. The firm has a 50-day moving average price of $69.85 and a 200 day moving average price of $69.43. Cogent Communications Holdings, Inc. has a twelve month low of $57.35 and a twelve month high of $86.00. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 2.36 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.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 29th. The technology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.79. The firm had revenue of $272.10 million during the quarter, compared to the consensus estimate of $275.82 million. Cogent Communications had a net margin of 135.34% and a negative return on equity of 23.66%. Research analysts forecast 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. Shareholders of record on Friday, March 15th were issued a $0.965 dividend. This is a boost from Cogent Communications’s previous quarterly dividend of $0.96. The ex-dividend date was Thursday, March 14th. This represents a $3.86 annualized dividend and a yield of 6.12%. Cogent Communications’s payout ratio is 14.43%.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $76.62, for a total value of $147,110.40. Following the completion of the sale, the executive now owns 54,822 shares in the company, valued at approximately $4,200,461.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction dated 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 sale, the executive now owns 54,822 shares in the company, valued at approximately $4,200,461.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dave Schaeffer sold 26,174 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $64.21, for a total value of $1,680,632.54. Following the sale, the chief executive officer now owns 4,653,203 shares of the company’s stock, valued at approximately $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 in the last 90 days. 11.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CCOI. TD Cowen lifted their price target on Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Bank of America downgraded Cogent Communications from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $75.00 in a research note on Thursday, March 7th. TheStreet raised Cogent Communications from a “c+” rating to a “b” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. cut their price target on Cogent Communications from $74.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Finally, KeyCorp lifted their price target on Cogent Communications from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.