LogMein, Inc. (LOGM) Shares Bought by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado increased its position in LogMein, Inc. (NASDAQ:LOGM) by 16.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,382 shares of the software maker’s stock after buying an additional 1,631 shares during the period. Public Employees Retirement Association of Colorado’s holdings in LogMein were worth $1,189,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC acquired a new stake in LogMein during the second quarter valued at $243,000. ING Groep NV acquired a new stake in LogMein during the second quarter valued at $742,000. Russell Investments Group Ltd. increased its stake in LogMein by 111.1% in the second quarter. Russell Investments Group Ltd. now owns 224,990 shares of the software maker’s stock valued at $23,515,000 after buying an additional 118,401 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in LogMein during the second quarter valued at $455,000. Finally, Osborn Williams & Donohoe LLC acquired a new stake in LogMein during the second quarter valued at $203,000. 97.39% of the stock is owned by institutional investors.
Shares of LogMein, Inc. (NASDAQ LOGM) opened at 117.85 on Tuesday. LogMein, Inc. has a one year low of $79.63 and a one year high of $123.95. The firm has a 50-day moving average of $111.39 and a 200-day moving average of $106.42. The stock’s market cap is $6.21 billion.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The company had revenue of $266.95 million during the quarter, compared to analyst estimates of $264.95 million. During the same quarter last year, the business posted $0.49 EPS. The firm’s revenue for the quarter was up 220.6% on a year-over-year basis. On average, equities research analysts expect that LogMein, Inc. will post $4.06 earnings per share for the current fiscal year.
The firm also recently announced 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 -909.01%.
Several equities analysts have recently commented on LOGM shares. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $170.00 price objective on shares of LogMein in a research note on Wednesday, August 9th. BidaskClub downgraded shares of LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of LogMein from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research note on Thursday, August 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $134.00 price objective (up from $130.00) on shares of LogMein in a research note on Sunday, July 30th. Finally, KeyCorp raised shares of LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $127.74.
In other LogMein news, insider Christopher Battles sold 721 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $117.78, for a total transaction of $84,919.38. Following the transaction, the insider now owns 2,036 shares of the company’s stock, valued at approximately $239,800.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward K. Herdiech sold 6,354 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $117.66, for a total transaction of $747,611.64. Following the transaction, the chief financial officer now directly owns 13,695 shares in the company, valued at approximately $1,611,353.70. The disclosure for this sale can be found here. Insiders have sold a total of 116,860 shares of company stock worth $13,258,245 in the last three months. Insiders own 2.50% of the company’s stock.
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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