Cogent Communications Holdings, Inc. (NASDAQ:CCOI) had its price objective upped by research analysts at Royal Bank Of Canada from $45.00 to $48.00 in a note issued to investors on Monday. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 9.46% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday. Citigroup Inc. increased their target price on shares of Cogent Communications Holdings from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. BidaskClub downgraded shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research note on Friday. Cowen and Company reiterated a “hold” rating and set a $46.00 target price on shares of Cogent Communications Holdings in a research note on Friday. Finally, Off Wall Street began coverage on shares of Cogent Communications Holdings in a research note on Monday, July 31st. They set a “sell” rating and a $29.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $42.67.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the 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 for the quarter, compared to analyst estimates of $120.23 million. During the same quarter last year, the company posted $0.09 EPS. Cogent Communications Holdings’s quarterly revenue was up 9.0% on a year-over-year basis.

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In related news, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $40.25, for a total value of $40,250.00. Following the completion of the sale, the vice president now owns 43,052 shares in the company, valued at $1,732,843. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thaddeus Gerard Weed sold 2,250 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $41.20, for a total transaction of $92,700.00. Following the completion of the sale, the chief financial officer now owns 77,150 shares of the company’s stock, valued at approximately $3,178,580. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,183 shares of company stock valued at $617,248. 9.48% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in CCOI. BlackRock Inc. increased its stake in shares of 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 worth $213,356,000 after buying an additional 4,952,008 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Cogent Communications Holdings by 133.3% in the first quarter. BlackRock Fund Advisors now owns 2,741,988 shares of the technology company’s stock worth $107,020,000 after buying an additional 1,566,875 shares during the period. MIG Capital LLC bought a new position in shares of Cogent Communications Holdings during the fourth quarter worth about $47,474,000. Jennison Associates LLC boosted its position in shares of Cogent Communications Holdings by 82.6% in the fourth quarter. Jennison Associates LLC now owns 1,376,835 shares of the technology company’s stock worth $47,762,000 after buying an additional 622,688 shares during the period. Finally, BlackRock Advisors LLC boosted its position in shares of Cogent Communications Holdings by 1,576.1% in the fourth quarter. BlackRock Advisors LLC now owns 479,040 shares of the technology company’s stock worth $16,618,000 after buying an additional 450,460 shares during the period. Hedge funds and other institutional investors own 93.99% of the company’s stock.

About Cogent Communications Holdings

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.

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

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