Commerce Bank boosted its position in shares of LogMein, Inc. (NASDAQ:LOGM) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 275,908 shares of the software maker’s stock after purchasing an additional 11,419 shares during the quarter. Commerce Bank owned about 0.52% of LogMein worth $30,363,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its holdings in shares of LogMein by 3.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,507 shares of the software maker’s stock valued at $1,597,000 after acquiring an additional 423 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of LogMein by 4.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 235,818 shares of the software maker’s stock valued at $25,951,000 after acquiring an additional 10,828 shares during the period. Rhumbline Advisers increased its holdings in shares of LogMein by 14.1% in the 3rd quarter. Rhumbline Advisers now owns 115,717 shares of the software maker’s stock valued at $12,735,000 after acquiring an additional 14,267 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of LogMein by 73.9% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 62,785 shares of the software maker’s stock valued at $6,909,000 after acquiring an additional 26,676 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of LogMein by 56.9% in the 3rd quarter. Sei Investments Co. now owns 78,050 shares of the software maker’s stock valued at $8,589,000 after acquiring an additional 28,315 shares during the period. Institutional investors own 96.62% of the company’s stock.
LogMein, Inc. (NASDAQ:LOGM) traded down $0.10 during trading on Thursday, hitting $114.40. The stock had a trading volume of 567,800 shares, compared to its average volume of 731,465. The firm has a market cap of $6,027.01, a PE ratio of 42.72, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34. LogMein, Inc. has a 52-week low of $90.35 and a 52-week high of $129.51.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.05. The firm had revenue of $269.30 million during the quarter, compared to analysts’ expectations of $270.56 million. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The business’s quarterly revenue was up 216.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. research analysts predict that LogMein, Inc. will post 3.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Wednesday, November 8th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.87%. LogMein’s payout ratio is 909.17%.
A number of brokerages have recently issued reports on LOGM. Northland Securities reiterated a “buy” rating on shares of LogMein in a report on Friday, July 28th. Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a report on Wednesday, November 1st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $170.00 price target on shares of LogMein in a report on Wednesday, August 9th. Cowen and Company reiterated an “outperform” rating and issued a $134.00 price target (up from $130.00) on shares of LogMein in a report on Sunday, July 30th. Finally, KeyCorp upgraded LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. LogMein currently has an average rating of “Buy” and a consensus price target of $135.96.
In other LogMein news, Director Michael K. Simon sold 20,000 shares of LogMein stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $111.93, for a total transaction of $2,238,600.00. Following the completion of the sale, the director now owns 765,579 shares of the company’s stock, valued at approximately $85,691,257.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Benson sold 3,016 shares of LogMein stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $111.60, for a total value of $336,585.60. Following the sale, the director now directly owns 1,787 shares of the company’s stock, valued at approximately $199,429.20. The disclosure for this sale can be found here. Insiders sold a total of 24,152 shares of company stock valued at $2,710,858 in the last three months. Insiders own 2.50% of the company’s stock.
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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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