Taylor Frigon Capital Management LLC Has $1.51 Million Stock Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Taylor Frigon Capital Management LLC boosted its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,836 shares of the technology company’s stock after purchasing an additional 429 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Cogent Communications were worth $1,506,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CCOI. EntryPoint Capital LLC purchased a new stake in shares of Cogent Communications in the first quarter valued at about $26,000. Blue Trust Inc. boosted its position in shares of Cogent Communications by 204.5% in the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after acquiring an additional 272 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Cogent Communications by 72.9% in the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after purchasing an additional 226 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Cogent Communications by 127.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock worth $44,000 after acquiring an additional 441 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Cogent Communications by 207.0% in the third quarter. GAMMA Investing LLC now owns 660 shares of the technology company’s stock worth $50,000 after purchasing an additional 445 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CCOI shares. Royal Bank of Canada reissued an “outperform” rating and set a $74.00 price objective on shares of Cogent Communications in a report on Tuesday, September 3rd. KeyCorp raised their target price on Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. boosted their price objective on shares of Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Bank of America lowered Cogent Communications from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $75.00 to $65.00 in a research report on Wednesday, August 21st. Finally, The Goldman Sachs Group lifted their price target on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.14.

Cogent Communications Stock Performance

Shares of CCOI stock traded up $0.52 during mid-day trading on Thursday, reaching $82.81. The stock had a trading volume of 29,370 shares, compared to its average volume of 442,790. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.00. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 4.43. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 3.26 and a beta of 0.41. The business’s fifty day moving average is $75.10 and its 200-day moving average is $66.10.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.59. The company had revenue of $260.40 million for the quarter, compared to analyst estimates of $264.32 million. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) EPS. On average, research analysts forecast that Cogent Communications Holdings, Inc. will post -4.46 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a $0.985 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.94 dividend on an annualized basis and a yield of 4.76%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.98. Cogent Communications’s payout ratio is currently 15.61%.

Insider Activity at Cogent Communications

In related news, CEO Dave Schaeffer sold 60,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $72.82, for a total value of $4,369,200.00. Following the completion of the sale, the chief executive officer now directly owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $69.77, for a total transaction of $133,958.40. Following the transaction, the executive now owns 50,982 shares in the company, valued at $3,557,014.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dave Schaeffer sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $72.82, for a total transaction of $4,369,200.00. Following the sale, the chief executive officer now directly owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,870 shares of company stock valued at $4,716,057 over the last quarter. 11.40% of the stock is owned by insiders.

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.