Cogent Communications Holdings, Inc. (NASDAQ:CCOI)‘s stock had its “underperform” rating reissued by analysts at Raymond James Financial, Inc. in a research report issued to clients and investors on Friday.

Several other research analysts also recently issued reports on the stock. Off Wall Street initiated coverage on shares of Cogent Communications Holdings in a research note on Monday, July 31st. They issued a “sell” rating and a $29.00 target price on the stock. Zacks Investment Research upgraded shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Monday, October 9th. BidaskClub upgraded shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada reiterated a “buy” rating and issued a $48.00 target price on shares of Cogent Communications Holdings in a research note on Monday, September 18th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $48.00 target price (up previously from $47.00) on shares of Cogent Communications Holdings in a research note on Friday, July 14th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $44.23.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.06). The firm had revenue of $123.00 million during the quarter, compared to the consensus estimate of $123.60 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS.

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In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $46.60, for a total transaction of $46,600.00. Following the completion of the sale, the vice president now directly owns 41,052 shares of the company’s stock, valued at $1,913,023.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Raymond B. Kummer sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $45.78, for a total transaction of $91,560.00. Following the sale, the vice president now directly owns 59,140 shares of the company’s stock, valued at $2,707,429.20. The disclosure for this sale can be found here. Insiders have sold 30,466 shares of company stock valued at $1,380,404 over the last three months. 9.48% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in CCOI. Flinton Capital Management LLC increased its holdings in Cogent Communications Holdings by 63.4% during the second quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock valued at $106,000 after buying an additional 1,024 shares during the last quarter. Sei Investments Co. increased its holdings in Cogent Communications Holdings by 29.7% during the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock valued at $117,000 after buying an additional 670 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in Cogent Communications Holdings during the second quarter valued at approximately $140,000. PNC Financial Services Group Inc. increased its holdings in Cogent Communications Holdings by 1,919.3% during the second quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock valued at $151,000 after buying an additional 3,589 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in Cogent Communications Holdings by 66.5% during the second quarter. Riverhead Capital Management LLC now owns 4,163 shares of the technology company’s stock valued at $167,000 after buying an additional 1,663 shares during the last quarter. 93.02% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

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