Azimuth Capital Management LLC Acquires 7,865 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Azimuth Capital Management LLC grew its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 25.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 38,989 shares of the technology company’s stock after buying an additional 7,865 shares during the quarter. Azimuth Capital Management LLC’s holdings in Cogent Communications were worth $2,334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. increased its holdings in Cogent Communications by 58.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,330,604 shares of the technology company’s stock worth $79,663,000 after acquiring an additional 490,054 shares during the period. Allianz Asset Management GmbH increased its holdings in Cogent Communications by 261.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 450,449 shares of the technology company’s stock worth $27,049,000 after acquiring an additional 325,765 shares during the period. Skylands Capital LLC increased its holdings in Cogent Communications by 418.9% during the 3rd quarter. Skylands Capital LLC now owns 189,000 shares of the technology company’s stock worth $11,349,000 after acquiring an additional 152,575 shares during the period. Copeland Capital Management LLC grew its stake in Cogent Communications by 33.3% in the 4th quarter. Copeland Capital Management LLC now owns 503,022 shares of the technology company’s stock worth $30,116,000 after buying an additional 125,590 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Cogent Communications by 136.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 215,065 shares of the technology company’s stock worth $12,915,000 after buying an additional 124,142 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

NASDAQ CCOI traded down $0.46 on Tuesday, hitting $58.16. 6,915 shares of the stock were exchanged, compared to its average volume of 288,102. The firm has a market capitalization of $2.75 billion, a P/E ratio of 136.33, a P/E/G ratio of 7.46 and a beta of 0.10. Cogent Communications Holdings, Inc. has a 52-week low of $53.20 and a 52-week high of $92.96. The stock has a fifty day moving average price of $60.06 and a two-hundred day moving average price of $61.14.

CCOI has been the subject of a number of research reports. Smith Barney Citigroup cut their price objective on shares of Cogent Communications from $89.00 to $75.00 in a research note on Wednesday, November 4th. Moffett Nathanson upgraded shares of Cogent Communications from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $63.00 to $69.00 in a report on Wednesday, February 3rd. TheStreet lowered shares of Cogent Communications from a “b-” rating to a “c+” rating in a report on Thursday, November 5th. Zacks Investment Research lowered shares of Cogent Communications from a “hold” rating to a “sell” rating and set a $57.00 price target for the company. in a research note on Monday, November 9th. Finally, Royal Bank of Canada decreased their price target on shares of Cogent Communications from $79.00 to $70.00 in a research note on Tuesday, November 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Cogent Communications presently has an average rating of “Hold” and an average target price of $76.78.

In related news, VP Timothy G. Oneill sold 2,000 shares of Cogent Communications stock in a transaction dated Monday, December 7th. The stock was sold at an average price of $57.76, for a total value of $115,520.00. Following the completion of the sale, the vice president now directly owns 31,600 shares in the company, valued at $1,825,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO James Bubeck sold 3,840 shares of Cogent Communications stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $57.94, for a total value of $222,489.60. Following the completion of the sale, the executive now owns 38,782 shares of the company’s stock, valued at $2,247,029.08. The disclosure for this sale can be found here. Insiders have sold 9,190 shares of company stock valued at $531,393 over the last three months. Insiders own 10.71% of the company’s stock.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, Australia, and Latin America. The company offers on-net Internet access and private network services to law firms, financial services firms, advertising and marketing firms, other professional services businesses, other Internet service providers, telephone companies, cable television companies, Web hosting companies, content delivery network companies, and commercial content and application service providers.

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

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