Louisiana State Employees Retirement System increased its position in shares of LogMein, Inc. (NASDAQ:LOGM) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,700 shares of the software maker’s stock after buying an additional 400 shares during the period. Louisiana State Employees Retirement System’s holdings in LogMein were worth $1,432,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of LOGM. Dimensional Fund Advisors LP boosted its stake in shares of LogMein by 46.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,057 shares of the software maker’s stock worth $6,861,000 after buying an additional 22,462 shares during the period. Norges Bank acquired a new stake in shares of LogMein during the fourth quarter worth $16,421,000. Vident Investment Advisory LLC acquired a new stake in shares of LogMein during the fourth quarter worth $318,000. Teachers Advisors LLC boosted its stake in shares of LogMein by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 234,283 shares of the software maker’s stock worth $22,620,000 after buying an additional 7,814 shares during the period. Finally, Creative Planning boosted its stake in shares of LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock worth $112,000 after buying an additional 673 shares during the period. Hedge funds and other institutional investors own 97.39% of the company’s stock.
LogMein, Inc. (NASDAQ:LOGM) traded up 1.33% during trading on Wednesday, hitting $117.70. 383,903 shares of the stock traded hands. The firm’s 50-day moving average is $111.89 and its 200 day moving average is $106.60. LogMein, Inc. has a 52 week low of $79.63 and a 52 week high of $123.95. The stock’s market cap is $6.21 billion.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The business had revenue of $266.95 million during the quarter, compared to analyst estimates of $264.95 million. During the same period in the previous year, the firm earned $0.49 EPS. LogMein’s quarterly revenue was up 220.6% compared to the same quarter last year. Equities research analysts forecast that LogMein, Inc. will post $4.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Monday, August 7th. LogMein’s dividend payout ratio (DPR) is currently -909.01%.
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A number of analysts have weighed in on LOGM shares. TheStreet raised shares of LogMein from a “c” rating to a “b-” rating in a report on Wednesday, April 19th. Vetr cut shares of LogMein from a “hold” rating to a “sell” rating and set a $101.67 target price on the stock. in a report on Wednesday, April 26th. Zacks Investment Research cut shares of LogMein from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Cowen and Company increased their price objective on shares of LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price objective (up previously from $110.00) on shares of LogMein in a report on Friday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $127.74.
In other LogMein news, SVP James Lok sold 960 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $111.00, for a total transaction of $106,560.00. Following the completion of the transaction, the senior vice president now owns 2,109 shares of the company’s stock, valued at approximately $234,099. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William Raymond Wagner sold 4,588 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $116.30, for a total value of $533,584.40. Following the transaction, the chief executive officer now directly owns 69,542 shares of the company’s stock, valued at approximately $8,087,734.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,860 shares of company stock valued at $13,258,245. Insiders own 2.50% of the company’s stock.
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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