Public Employees Retirement System of Ohio Acquires 44,206 Shares of LogMein, Inc. (NASDAQ:LOGM)

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.

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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.

Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

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