Wells Fargo & Company Cuts Cogent Communications (NASDAQ:CCOI) Price Target to $23.00

Cogent Communications (NASDAQ:CCOI) had its target price cut by Wells Fargo & Company from $27.00 to $23.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

CCOI has been the topic of a number of other reports. UBS Group reaffirmed a “neutral” rating and set a $27.00 price objective (down from $50.00) on shares of Cogent Communications in a report on Friday, November 7th. Williams Trading set a $40.00 target price on shares of Cogent Communications in a report on Monday, February 23rd. Royal Bank Of Canada cut their price target on shares of Cogent Communications from $40.00 to $23.00 and set a “sector perform” rating on the stock in a report on Thursday, November 13th. Zacks Research raised shares of Cogent Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, TD Cowen reiterated a “buy” rating on shares of Cogent Communications in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.78.

Cogent Communications Stock Up 1.3%

CCOI stock opened at $23.07 on Thursday. The firm has a market capitalization of $1.15 billion, a PE ratio of -6.06 and a beta of 0.84. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 49.06. Cogent Communications has a twelve month low of $15.96 and a twelve month high of $72.68. The stock’s 50 day moving average is $23.06 and its 200-day moving average is $29.02.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Friday, February 20th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.45. The business had revenue of $240.52 million during the quarter, compared to the consensus estimate of $243.82 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 18.67%.Cogent Communications’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.91) earnings per share. Sell-side analysts expect that Cogent Communications will post -4.55 EPS for the current fiscal year.

Cogent Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, March 6th. Cogent Communications’s payout ratio is -2.10%.

Insider Activity at Cogent Communications

In related news, Director Lewis H. Ferguson sold 2,206 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $23.03, for a total transaction of $50,804.18. Following the completion of the sale, the director owned 20,449 shares in the company, valued at approximately $470,940.47. This trade represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sheryl Lynn Kennedy sold 3,300 shares of Cogent Communications stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $22.99, for a total transaction of $75,867.00. Following the completion of the sale, the director directly owned 10,100 shares in the company, valued at approximately $232,199. This represents a 24.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 10,356 shares of company stock worth $236,427. 11.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cogent Communications

Hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in Cogent Communications during the third quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Cogent Communications in the fourth quarter worth $28,000. Hantz Financial Services Inc. raised its stake in shares of Cogent Communications by 313.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock valued at $32,000 after buying an additional 1,127 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of Cogent Communications in the second quarter valued at $40,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Cogent Communications during the 4th quarter valued at $43,000. Institutional investors own 92.45% of the company’s stock.

Cogent Communications News Roundup

Here are the key news stories impacting Cogent Communications this week:

• Positive Sentiment: Quarterly dividend announced — Cogent declared a $0.02 quarterly dividend (record March 6; payable March 20), signaling management willingness to return cash and providing a modest yield (~0.3%). That income signal likely supports buying interest from yield‑sensitive investors. Dividend/Stock Report
• Positive Sentiment: Recent quarterly results beat EPS estimates — Cogent reported ($0.64) EPS vs. consensus ($1.09) loss estimate, a smaller-than-expected loss that can support short-term buying despite revenue decline year-over-year. Earnings Summary
• Neutral Sentiment: Investor / institutional position notes — Large institutions (Vanguard, ProShare Advisors, Geode, others) remain major holders and have added shares in past quarters, which provides structural support but is not new catalyst news. Institutional Holdings
• Neutral Sentiment: Conference presentation / analysis pieces — Cogent presented at the Morgan Stanley TMT conference (transcript available) and has recent valuation/analysis articles on Yahoo/Seeking Alpha examining the dividend and capital allocation; these provide context but no immediate new financials. Conference Transcript Yahoo Analysis
• Neutral Sentiment: Short-interest data appears anomalous — Recent reports show 0 shares short with a 0.0 days-to-cover figure; this looks like a reporting anomaly and should not be treated as a genuine change in bearish positioning.
• Negative Sentiment: Insider selling — CFO and directors sold shares — Multiple Form 4 filings show sales: CFO Thaddeus G. Weed sold 4,850 shares (~$22.63 avg) and directors Sheryl Kennedy (3,300 shares) and Lewis H. Ferguson (2,206 shares) also sold in early March. Clustered insider sales can pressure sentiment and be read as insiders reducing exposure. CFO Form 4 Director Kennedy Form 4 Director Ferguson Form 4
• Negative Sentiment: Analyst cuts / lower target — Wells Fargo trimmed its target to $23 and set an “equal weight” rating; other major firms have cut targets or trimmed upside over recent months. Lower targets and mixed analyst views can limit upside momentum. Analyst Note

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.