Charles Schwab Investment Management Inc. Has $39.26 Million Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Charles Schwab Investment Management Inc. raised its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 509,344 shares of the technology company’s stock after acquiring an additional 11,858 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.04% of Cogent Communications worth $39,255,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Cogent Communications during the 3rd quarter valued at about $30,000. Quest Partners LLC acquired a new stake in shares of Cogent Communications during the 3rd quarter worth approximately $46,000. Blue Trust Inc. lifted its position in shares of Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock valued at $47,000 after acquiring an additional 218 shares during the period. BankPlus Trust Department bought a new position in Cogent Communications during the fourth quarter worth $63,000. Finally, Jones Financial Companies Lllp grew its holdings in Cogent Communications by 132.1% in the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company’s stock worth $67,000 after purchasing an additional 498 shares during the period. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Cogent Communications to a “sell” rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $80.25.

Cogent Communications Price Performance

Shares of NASDAQ CCOI opened at $68.52 on Friday. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 87.85 and a beta of 0.45. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76. The firm’s 50-day simple moving average is $75.42 and its 200 day simple moving average is $76.85.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.31. The company had revenue of $252.29 million for the quarter, compared to analysts’ expectations of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. As a group, research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $1.005 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date is Thursday, March 13th. Cogent Communications’s dividend payout ratio (DPR) is presently -93.49%.

Insider Buying and Selling

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the sale, the chief financial officer now directly owns 103,000 shares in the company, valued at approximately $7,422,180. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lewis H. Ferguson sold 956 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $69.36, for a total value of $66,308.16. Following the sale, the director now directly owns 18,652 shares of the company’s stock, valued at approximately $1,293,702.72. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,681 shares of company stock worth $840,878. 11.00% of the stock is owned by insiders.

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.