Allspring Global Investments Holdings LLC Has $438,000 Stock Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Allspring Global Investments Holdings LLC raised its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 102.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,764 shares of the technology company’s stock after acquiring an additional 2,914 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cogent Communications were worth $438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Cogent Communications by 895.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. Strs Ohio increased its stake 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 valued at $111,000 after purchasing an additional 300 shares during the last quarter. CI Investments Inc. bought a new position in shares of Cogent Communications in the 3rd quarter valued at $142,000. Fifth Third Bancorp increased its stake in shares of Cogent Communications by 56.7% in the 4th quarter. Fifth Third Bancorp now owns 2,026 shares of the technology company’s stock valued at $154,000 after purchasing an additional 733 shares during the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of Cogent Communications in the 3rd quarter valued at $206,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cogent Communications

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 value of $147,110.40. Following the transaction, the executive now directly owns 54,822 shares of the company’s stock, 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. 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 value of $147,110.40. Following the transaction, the executive now directly owns 54,822 shares of the company’s stock, 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 shares were sold at an average price of $64.21, for a total value of $1,680,632.54. Following the completion of the transaction, the chief executive officer now directly owns 4,653,203 shares in the company, valued at $298,782,164.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,320 shares of company stock worth $4,669,997. Insiders own 11.40% of the company’s stock.

Cogent Communications Trading Down 0.0 %

NASDAQ CCOI opened at $64.93 on Friday. The business’s 50-day moving average price is $67.93 and its two-hundred day moving average price is $69.45. Cogent Communications Holdings, Inc. has a 12 month low of $57.35 and a 12 month high of $86.00. The firm has a market capitalization of $3.08 billion, a PE 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.

Cogent Communications (NASDAQ:CCOI) last released 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. Cogent Communications had a negative return on equity of 23.66% and a net margin of 135.34%. The firm had revenue of $272.10 million for the quarter, compared to analyst estimates of $275.82 million. On average, analysts expect that Cogent Communications Holdings, Inc. will post -3.35 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Friday, March 15th were given a $0.965 dividend. This represents a $3.86 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.96. Cogent Communications’s payout ratio is 14.43%.

Wall Street Analysts Forecast Growth

CCOI has been the topic of several recent analyst reports. KeyCorp lifted their price target on Cogent Communications from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Bank of America lowered Cogent Communications from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $75.00 in a research note on Thursday, March 7th. TD Cowen lifted their price target on Cogent Communications from $81.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. StockNews.com lowered Cogent Communications from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, TheStreet upgraded Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.57.

About Cogent Communications

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.