TimesSquare Capital Management LLC Acquires 20,900 Shares of Cogent Communications Holdings, Inc. (CCOI)

TimesSquare Capital Management LLC boosted its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 946,765 shares of the technology company’s stock after purchasing an additional 20,900 shares during the period. TimesSquare Capital Management LLC owned approximately 2.12% of Cogent Communications Holdings worth $37,965,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC lifted its stake in Cogent Communications Holdings by 0.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 7,186 shares of the technology company’s stock worth $288,000 after purchasing an additional 38 shares during the last quarter. Aperio Group LLC raised its stake in shares of Cogent Communications Holdings by 1.1% during the second quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock valued at $368,000 after acquiring an additional 99 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Cogent Communications Holdings by 0.5% during the second quarter. Arizona State Retirement System now owns 21,400 shares of the technology company’s stock valued at $858,000 after acquiring an additional 100 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Cogent Communications Holdings by 0.9% during the second quarter. Texas Permanent School Fund now owns 29,897 shares of the technology company’s stock valued at $1,199,000 after acquiring an additional 253 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Cogent Communications Holdings by 0.5% during the first quarter. Prudential Financial Inc. now owns 70,419 shares of the technology company’s stock valued at $3,032,000 after acquiring an additional 330 shares during the last quarter. 93.54% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently commented on CCOI. Royal Bank Of Canada upped their price objective on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Zacks Investment Research downgraded shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Cowen and Company reaffirmed a “hold” rating and set a $42.00 price objective on shares of Cogent Communications Holdings in a research note on Friday, July 28th. BidaskClub downgraded shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $48.00 price objective (up from $47.00) on shares of Cogent Communications Holdings in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.45.

In other news, VP Timothy G. Oneill sold 1,000 shares of the business’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 approximately $1,732,843. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Raymond B. Kummer sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $45.78, for a total transaction of $91,560.00. Following the completion of the sale, the vice president now owns 59,140 shares of the company’s stock, valued at approximately $2,707,429.20. The disclosure for this sale can be found here. Insiders have sold a total of 29,483 shares of company stock valued at $1,291,724 in the last quarter. 9.48% of the stock is currently owned by company insiders.

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Cogent Communications Holdings, Inc. (CCOI) opened at 44.40 on Friday. The company has a market capitalization of $1.98 billion, a P/E ratio of 126.86 and a beta of 0.71. Cogent Communications Holdings, Inc. has a 1-year low of $34.23 and a 1-year high of $47.13. The company has a 50-day moving average of $43.86 and a 200-day moving average of $42.08.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The company had revenue of $119.80 million for the quarter, compared to the consensus estimate of $120.23 million. During the same quarter in the previous year, the business earned $0.09 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities analysts expect that Cogent Communications Holdings, Inc. will post $0.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a dividend of $0.46 per share. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, August 16th. This represents a $1.84 dividend on an annualized basis and a yield of 4.14%. Cogent Communications Holdings’s dividend payout ratio (DPR) is presently 511.11%.

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.

Institutional Ownership by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

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