Public Sector Pension Investment Board Has $7.11 Million Position in Cogent Communications Holdings, Inc. $CCOI

Public Sector Pension Investment Board boosted its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 28.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,402 shares of the technology company’s stock after buying an additional 40,706 shares during the period. Public Sector Pension Investment Board’s holdings in Cogent Communications were worth $7,110,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. ProShare Advisors LLC increased its holdings in Cogent Communications by 30.1% during the 3rd quarter. ProShare Advisors LLC now owns 177,113 shares of the technology company’s stock worth $6,792,000 after purchasing an additional 40,970 shares in the last quarter. Ceredex Value Advisors LLC boosted its position in shares of Cogent Communications by 44.6% during the second quarter. Ceredex Value Advisors LLC now owns 206,800 shares of the technology company’s stock valued at $9,970,000 after buying an additional 63,750 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cogent Communications by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,060,367 shares of the technology company’s stock valued at $51,127,000 after buying an additional 20,055 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Cogent Communications by 43.9% during the second quarter. Asset Management One Co. Ltd. now owns 63,555 shares of the technology company’s stock worth $3,064,000 after buying an additional 19,394 shares in the last quarter. Finally, Redmond Asset Management LLC raised its position in Cogent Communications by 9.0% in the 2nd quarter. Redmond Asset Management LLC now owns 141,383 shares of the technology company’s stock valued at $6,816,000 after buying an additional 11,727 shares during the last quarter. 92.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Cogent Communications from $37.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, November 13th. Zacks Research upgraded shares of Cogent Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. The Goldman Sachs Group dropped their price target on shares of Cogent Communications from $40.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. KeyCorp reaffirmed an “overweight” rating on shares of Cogent Communications in a research report on Wednesday, December 10th. Finally, Royal Bank Of Canada decreased their price objective on shares of Cogent Communications from $40.00 to $23.00 and set a “sector perform” rating for the company in a research note on Thursday, November 13th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.71.

Insider Transactions at Cogent Communications

In other news, Director Lewis H. Ferguson sold 4,000 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $81,360.00. Following the completion of the transaction, the director owned 19,267 shares in the company, valued at approximately $391,890.78. This represents a 17.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is owned by corporate insiders.

Cogent Communications Trading Up 1.2%

NASDAQ:CCOI opened at $26.79 on Wednesday. Cogent Communications Holdings, Inc. has a 12 month low of $15.96 and a 12 month high of $84.06. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 49.06. The firm’s 50 day moving average is $23.42 and its 200 day moving average is $30.41. The stock has a market capitalization of $1.32 billion, a PE ratio of -6.57 and a beta of 0.81.

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.