LogMein, Inc. (NASDAQ:LOGM) Cut to “Buy” at BidaskClub
BidaskClub cut shares of LogMein, Inc. (NASDAQ:LOGM) from a strong-buy rating to a buy rating in a report published on Thursday morning.
LOGM has been the topic of several other reports. KeyCorp raised LogMein from a sector weight rating to an overweight rating and set a $135.00 price objective on the stock in a report on Friday, July 28th. TheStreet raised LogMein from a c rating to a b- rating in a report on Wednesday, April 19th. Cowen and Company upgraded LogMein from a market perform rating to an outperform rating and increased their price target for the company from $100.00 to $115.00 in a report on Friday, April 7th. Northland Securities restated a buy rating on shares of LogMein in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded LogMein from a hold rating to a buy rating and set a $131.00 price target on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $125.52.
Shares of LogMein (LOGM) traded down 0.57% on Thursday, reaching $112.70. 382,056 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $110.02 and a 200 day moving average price of $105.81. The firm’s market cap is $5.94 billion. LogMein has a one year low of $79.63 and a one year high of $123.95.
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, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The business had revenue of $266.95 million for the quarter, compared to analysts’ expectations of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The company’s revenue for the quarter was up 220.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Analysts expect that LogMein will post $4.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Wednesday, August 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, August 7th. LogMein’s dividend payout ratio (DPR) is presently -227.25%.
In other LogMein news, SVP Lawrence M. D’angelo sold 4,412 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $109.99, for a total value of $485,275.88. Following the transaction, the senior vice president now owns 6,476 shares of the company’s stock, valued at approximately $712,295.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Raymond Wagner sold 8,750 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $113.94, for a total value of $996,975.00. Following the completion of the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $6,147,404.82. The disclosure for this sale can be found here. Insiders sold a total of 128,796 shares of company stock worth $14,560,836 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Nikko Asset Management Americas Inc. acquired a new position in shares of LogMein during the first quarter valued at approximately $105,000. Creative Planning increased its position in shares of LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock valued at $112,000 after buying an additional 673 shares during the period. Amica Pension Fund Board of Trustees acquired a new position in shares of LogMein during the first quarter valued at approximately $151,000. Amica Mutual Insurance Co. acquired a new position in shares of LogMein during the first quarter valued at approximately $152,000. Finally, Fortaleza Asset Management Inc. acquired a new position in shares of LogMein during the first quarter valued at approximately $172,000. 96.46% of the stock is currently owned by institutional investors.
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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