State Board of Administration of Florida Retirement System boosted its position in LogMein, Inc. (NASDAQ:LOGM) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,258 shares of the software maker’s stock after buying an additional 3,560 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.15% of LogMein worth $8,942,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Frontier Capital Management Co. LLC lifted its holdings in LogMein by 81.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 26,537 shares of the software maker’s stock worth $2,920,000 after buying an additional 11,894 shares in the last quarter. Deltec Asset Management LLC acquired a new stake in shares of LogMein in the 3rd quarter valued at about $1,101,000. Crossmark Global Holdings Inc. acquired a new stake in shares of LogMein in the 3rd quarter valued at about $881,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of LogMein by 101.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,712 shares of the software maker’s stock valued at $959,000 after purchasing an additional 4,381 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of LogMein by 10.5% in the 3rd quarter. Aperio Group LLC now owns 36,343 shares of the software maker’s stock valued at $4,000,000 after purchasing an additional 3,454 shares in the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.
LogMein, Inc. (NASDAQ:LOGM) opened at $115.50 on Monday. LogMein, Inc. has a 1 year low of $90.35 and a 1 year high of $129.51. The company has a market cap of $6,079.65, a PE 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 earnings results on Thursday, October 26th. The software maker reported $1.16 EPS for the quarter, topping the 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 firm had revenue of $269.30 million during the quarter, compared to analysts’ expectations of $270.56 million. During the same quarter in the prior year, the firm earned $0.56 EPS. LogMein’s quarterly revenue was up 216.5% on a year-over-year basis. sell-side analysts forecast that LogMein, Inc. will post 3.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, November 7th. LogMein’s dividend payout ratio (DPR) is 909.17%.
In other news, insider Christopher Battles sold 1,136 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $119.43, for a total value of $135,672.48. Following the completion of the transaction, the insider now directly owns 2,760 shares in the company, valued at $329,626.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Benson sold 3,016 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $111.60, for a total transaction of $336,585.60. Following the completion of the transaction, the director now owns 1,787 shares of the company’s stock, valued at $199,429.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,152 shares of company stock valued at $2,710,858. 2.50% of the stock is owned by insiders.
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A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of LogMein from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research note on Wednesday, November 1st. Cowen and Company restated a “buy” rating and issued a $145.00 target price on shares of LogMein in a research note on Sunday, October 29th. Barclays PLC upped their target price on shares of LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Piper Jaffray Companies restated a “buy” rating and issued a $170.00 target price on shares of LogMein in a research note on Tuesday, October 24th. Finally, Robert W. Baird upgraded shares of LogMein from a “neutral” rating to an “outperform” rating and set a $130.00 target price on the stock in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. LogMein presently has a consensus rating of “Buy” and an average target price of $135.96.
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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