Public Employees Retirement System of Ohio boosted its holdings in LogMein, Inc. (NASDAQ:LOGM) by 64.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,352 shares of the software maker’s stock after acquiring an additional 44,206 shares during the period. Public Employees Retirement System of Ohio owned about 0.21% of LogMein worth $11,741,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of LOGM. Vanguard Group Inc. lifted its holdings in LogMein by 112.7% in the first quarter. Vanguard Group Inc. now owns 4,446,416 shares of the software maker’s stock worth $433,525,000 after acquiring an additional 2,356,291 shares during the last quarter. Clearbridge Investments LLC bought a new position in LogMein in the first quarter worth about $141,745,000. FMR LLC lifted its holdings in LogMein by 45.9% in the second quarter. FMR LLC now owns 4,236,789 shares of the software maker’s stock worth $442,745,000 after acquiring an additional 1,333,687 shares during the last quarter. State Street Corp lifted its holdings in LogMein by 209.9% in the first quarter. State Street Corp now owns 1,671,627 shares of the software maker’s stock worth $162,988,000 after acquiring an additional 1,132,179 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of LogMein by 4,381.8% during the first quarter. Point72 Asset Management L.P. now owns 663,300 shares of the software maker’s stock valued at $64,672,000 after buying an additional 648,500 shares during the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on LOGM. Barclays PLC lifted their price target on LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a report on Friday. Zacks Investment Research raised LogMein from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Thursday, August 3rd. Cowen and Company reissued an “outperform” rating and set a $134.00 target price (up previously from $130.00) on shares of LogMein in a report on Sunday, July 30th. BidaskClub cut LogMein from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, Northland Securities reissued a “buy” rating on shares of LogMein in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. LogMein currently has a consensus rating of “Buy” and an average target price of $134.30.
ILLEGAL ACTIVITY NOTICE: This news story was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2017/10/28/public-employees-retirement-system-of-ohio-boosts-stake-in-logmein-inc-logm.html.
In other LogMein news, Director Steven J. Benson sold 3,016 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $111.60, for a total transaction of $336,585.60. Following the sale, the director now directly owns 1,787 shares of the company’s stock, valued at $199,429.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Raymond Wagner sold 4,588 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $116.30, for a total transaction of $533,584.40. Following the sale, the chief executive officer now directly owns 69,542 shares in the company, valued at $8,087,734.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,319 shares of company stock valued at $7,922,367. 2.50% of the stock is owned by company insiders.
Shares of LogMein, Inc. (NASDAQ LOGM) remained flat at $122.05 during midday trading on Friday. 1,944,993 shares of the company’s stock traded hands. LogMein, Inc. has a 52 week low of $86.22 and a 52 week high of $129.51. The firm’s 50 day moving average is $113.84 and its 200-day moving average is $112.04. The firm’s market cap is $6.44 billion.
LogMein (NASDAQ:LOGM) last released its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $269.30 million during the quarter, compared to the consensus estimate of $270.56 million. LogMein had a net margin of 1.01% and a return on equity of 6.12%. The firm’s revenue for the quarter was up 216.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. Analysts expect that LogMein, Inc. will post $4.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Tuesday, November 7th. LogMein’s dividend payout ratio is currently 909.17%.
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.
Receive News & Ratings for LogMein Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMein Inc. and related companies with MarketBeat.com's FREE daily email newsletter.