New York State Common Retirement Fund purchased a new position in shares of Mimecast Limited (NASDAQ:MIME) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,639 shares of the technology company’s stock, valued at approximately $472,000.

Other hedge funds have also modified their holdings of the company. Frontier Capital Management Co. LLC acquired a new position in shares of Mimecast Limited during the second quarter worth approximately $11,326,000. Redwood Investments LLC acquired a new position in shares of Mimecast Limited during the second quarter worth approximately $4,172,000. State of Wisconsin Investment Board lifted its holdings in shares of Mimecast Limited by 60.8% during the second quarter. State of Wisconsin Investment Board now owns 238,009 shares of the technology company’s stock worth $6,374,000 after buying an additional 90,000 shares during the last quarter. Essex Investment Management Co. LLC lifted its holdings in shares of Mimecast Limited by 254.9% during the second quarter. Essex Investment Management Co. LLC now owns 93,886 shares of the technology company’s stock worth $2,514,000 after buying an additional 67,432 shares during the last quarter. Finally, Spark Investment Management LLC lifted its holdings in shares of Mimecast Limited by 21.3% during the second quarter. Spark Investment Management LLC now owns 151,200 shares of the technology company’s stock worth $4,049,000 after buying an additional 26,500 shares during the last quarter. Institutional investors own 53.40% of the company’s stock.

Shares of Mimecast Limited (NASDAQ:MIME) opened at $29.98 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 1.42. Mimecast Limited has a 1 year low of $16.75 and a 1 year high of $32.00.

MIME has been the subject of a number of research analyst reports. Zacks Investment Research lowered Mimecast Limited from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Needham & Company LLC reiterated a “buy” rating and set a $35.00 price target on shares of Mimecast Limited in a report on Tuesday, September 12th. BidaskClub lowered Mimecast Limited from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Jefferies Group LLC restated a “buy” rating and set a $35.00 price objective on shares of Mimecast Limited in a research report on Sunday, September 10th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $33.00 price objective (up from $30.00) on shares of Mimecast Limited in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. Mimecast Limited has a consensus rating of “Buy” and an average price target of $32.83.

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Mimecast Limited Company Profile

Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.

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Institutional Ownership by Quarter for Mimecast Limited (NASDAQ:MIME)

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