Raymond James Financial Services Advisors Inc. lifted its position in shares of LogMein, Inc. (NASDAQ:LOGM) by 73.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,331 shares of the software maker’s stock after acquiring an additional 1,839 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in LogMein were worth $453,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Teachers Advisors LLC boosted its holdings in LogMein by 48.6% during the first quarter. Teachers Advisors LLC now owns 348,029 shares of the software maker’s stock worth $33,933,000 after buying an additional 113,746 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of LogMein by 110.0% in the second quarter. Neuberger Berman Group LLC now owns 210,764 shares of the software maker’s stock valued at $22,025,000 after purchasing an additional 110,384 shares in the last quarter. Renaissance Group LLC lifted its holdings in shares of LogMein by 0.9% in the second quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock valued at $360,000 after purchasing an additional 32 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of LogMein by 23.6% in the second quarter. Wells Fargo & Company MN now owns 866,387 shares of the software maker’s stock valued at $90,537,000 after purchasing an additional 165,690 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of LogMein by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 378,597 shares of the software maker’s stock valued at $39,566,000 after purchasing an additional 45,825 shares in the last quarter. Institutional investors and hedge funds own 96.62% of the company’s stock.
Several brokerages recently issued reports on LOGM. KeyCorp raised shares of LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research note on Friday, July 28th. Piper Jaffray Companies reissued a “buy” rating and set a $170.00 price objective on shares of LogMein in a research note on Tuesday, October 24th. Northland Securities reaffirmed a “buy” rating on shares of LogMein in a research report on Friday, July 28th. Zacks Investment Research raised shares of LogMein from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research report on Thursday, August 3rd. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $134.00 price target (up previously from $130.00) on shares of LogMein in a research report on Sunday, July 30th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $135.96.
LogMein, Inc. (NASDAQ LOGM) opened at $115.50 on Monday. LogMein, Inc. has a 52 week low of $90.35 and a 52 week high of $129.51. The company has a market cap of $6,079.65, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 2.01 and a beta of 1.34.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.05. LogMein had a net margin of 1.01% and a return on equity of 5.50%. The company had revenue of $269.30 million for the quarter, compared to the consensus estimate of $270.56 million. During the same period last year, the firm posted $0.56 EPS. The company’s revenue for the quarter was up 216.5% on a year-over-year basis. sell-side analysts expect that LogMein, Inc. will post 3.28 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.87%. LogMein’s payout ratio is 909.17%.
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In other news, Director Steven J. Benson sold 3,016 shares of LogMein stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $111.60, for a total value of $336,585.60. Following the transaction, the director now owns 1,787 shares of the company’s stock, valued at approximately $199,429.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Battles sold 1,136 shares of LogMein stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total transaction of $135,672.48. Following the completion of the transaction, the insider now directly owns 2,760 shares in the company, valued at approximately $329,626.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,152 shares of company stock worth $2,710,858. 2.50% of the stock is owned by corporate insiders.
LogMein Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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