Deutsche Bank AG Has $4.45 Million Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Deutsche Bank AG lifted its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 29.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 57,723 shares of the technology company's stock after buying an additional 13,160 shares during the quarter. Deutsche Bank AG owned approximately 0.12% of Cogent Communications worth $4,449,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co lifted its position in shares of Cogent Communications by 0.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 52,679 shares of the technology company's stock worth $4,055,000 after buying an additional 156 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Cogent Communications by 4.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company's stock worth $400,000 after buying an additional 212 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Cogent Communications by 53.8% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after acquiring an additional 218 shares during the period. Royce & Associates LP increased its holdings in shares of Cogent Communications by 0.6% in the 4th quarter. Royce & Associates LP now owns 33,883 shares of the technology company's stock worth $2,611,000 after acquiring an additional 218 shares during the period. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Cogent Communications by 58.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company's stock worth $48,000 after acquiring an additional 229 shares during the period. 92.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCOI has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of Cogent Communications from $102.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group dropped their price objective on shares of Cogent Communications from $71.00 to $62.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen raised shares of Cogent Communications to a "sell" rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $75.75.

Cogent Communications Price Performance

Cogent Communications stock traded up $0.99 during trading hours on Friday, hitting $46.89. 887,074 shares of the company traded hands, compared to its average volume of 486,952. The firm has a market cap of $2.31 billion, a P/E ratio of 60.12 and a beta of 0.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm's 50-day simple moving average is $54.95 and its two-hundred day simple moving average is $69.10. Cogent Communications Holdings, Inc. has a 1-year low of $43.65 and a 1-year high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.04). The company had revenue of $247.05 million for the quarter, compared to analyst estimates of $250.81 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm's quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the business posted ($1.38) EPS. As a group, analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $1.01 per share. This is a boost from Cogent Communications's previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.04 annualized dividend and a yield of 8.62%. Cogent Communications's dividend payout ratio (DPR) is presently -100.75%.

Insider Buying and Selling at Cogent Communications

In other news, Director Sheryl Lynn Kennedy sold 1,425 shares of Cogent Communications stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.96, for a total value of $103,968.00. Following the transaction, the director now owns 10,147 shares of the company's stock, valued at $740,325.12. The trade was a 12.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dave Schaeffer sold 25,000 shares of Cogent Communications stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $46.27, for a total transaction of $1,156,750.00. Following the completion of the transaction, the chief executive officer now directly owns 4,176,721 shares in the company, valued at $193,256,880.67. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,681 shares of company stock valued at $1,997,628. Company insiders own 10.20% of the company's stock.

About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.