Ipswich Investment Management Co. Inc. Buys 1,400 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Ipswich Investment Management Co. Inc. lifted its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,479 shares of the technology company’s stock after acquiring an additional 1,400 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Cogent Communications were worth $3,274,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC grew its stake in shares of Cogent Communications by 85.7% during the 3rd quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company’s stock valued at $1,284,000 after acquiring an additional 7,803 shares during the period. Consolidated Planning Corp purchased a new position in Cogent Communications in the 3rd quarter worth approximately $630,000. PEAK6 Investments LLC purchased a new position in Cogent Communications in the 3rd quarter worth approximately $1,720,000. Citigroup Inc. lifted its holdings in Cogent Communications by 56.8% in the 3rd quarter. Citigroup Inc. now owns 56,595 shares of the technology company’s stock worth $4,297,000 after purchasing an additional 20,510 shares in the last quarter. Finally, Boston Financial Mangement LLC lifted its holdings in Cogent Communications by 2.8% in the 3rd quarter. Boston Financial Mangement LLC now owns 609,821 shares of the technology company’s stock worth $46,298,000 after purchasing an additional 16,527 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors.

Insider Transactions at Cogent Communications

In related news, VP Henry W. Kilmer sold 4,800 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.61, for a total transaction of $362,928.00. Following the sale, the vice president now owns 33,800 shares in the company, valued at approximately $2,555,618. This represents a 12.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $81.42, for a total value of $156,326.40. Following the sale, the executive now owns 51,462 shares in the company, valued at $4,190,036.04. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,440 shares of company stock valued at $1,057,910 in the last ninety days. Corporate insiders own 11.40% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group began coverage on Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $80.25.

Cogent Communications Stock Down 1.9 %

Shares of CCOI opened at $79.93 on Friday. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 102.47 and a beta of 0.40. Cogent Communications Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $86.76. The business’s 50 day simple moving average is $76.50 and its 200-day simple moving average is $76.79. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

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, 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.