Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Upgraded by BidaskClub to “Buy”

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Monday, July 24th.

Other research analysts have also issued reports about the company. Deutsche Bank AG reissued a “buy” rating and issued a $48.00 price objective (up from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 target price on shares of Cogent Communications Holdings in a research report on Sunday, July 9th. Zacks Investment Research raised Cogent Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Cowen and Company lowered Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 target price for the company. in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Citigroup Inc. lifted their price target on Cogent Communications Holdings from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Cogent Communications Holdings has a consensus rating of “Hold” and an average price target of $42.45.

Cogent Communications Holdings (NASDAQ:CCOI) opened at 42.25 on Monday. The company has a market capitalization of $1.89 billion, a PE ratio of 120.71 and a beta of 0.74. The company’s 50-day moving average price is $42.46 and its 200 day moving average price is $41.76. Cogent Communications Holdings has a 52 week low of $34.23 and a 52 week high of $45.25.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The business had revenue of $119.80 million during the quarter, compared to the consensus estimate of $120.23 million. During the same period last year, the business posted $0.09 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. On average, equities research analysts anticipate that Cogent Communications Holdings will post $0.48 EPS for the current year.

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In other news, VP Robert N. Beury, Jr. sold 3,000 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $40.20, for a total value of $120,600.00. Following the transaction, the vice president now owns 53,240 shares of the company’s stock, valued at $2,140,248. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Thaddeus Gerard Weed sold 2,250 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $43.51, for a total transaction of $97,897.50. Following the completion of the transaction, the chief financial officer now owns 72,650 shares of the company’s stock, valued at $3,161,001.50. The disclosure for this sale can be found here. Insiders have sold a total of 27,933 shares of company stock worth $1,169,426 in the last three months. Insiders own 9.48% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Cogent Communications Holdings by 125,208.8% in the first quarter. BlackRock Inc. now owns 4,955,963 shares of the technology company’s stock valued at $213,356,000 after buying an additional 4,952,008 shares during the last quarter. Norges Bank purchased a new stake in Cogent Communications Holdings during the fourth quarter worth $13,374,000. Copeland Capital Management LLC purchased a new stake in Cogent Communications Holdings during the second quarter worth $10,759,000. First Trust Advisors LP raised its stake in Cogent Communications Holdings by 23.0% in the second quarter. First Trust Advisors LP now owns 1,413,588 shares of the technology company’s stock worth $56,685,000 after buying an additional 264,597 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Cogent Communications Holdings by 13.5% in the second quarter. Renaissance Technologies LLC now owns 2,058,600 shares of the technology company’s stock worth $82,550,000 after buying an additional 245,100 shares in the last quarter. Institutional investors and hedge funds own 94.29% of the company’s stock.

Cogent Communications Holdings Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.