Cipher Capital LP boosted its position in LogMein, Inc. (NASDAQ:LOGM) by 332.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,703 shares of the software maker’s stock after acquiring an additional 14,381 shares during the period. Cipher Capital LP’s holdings in LogMein were worth $2,058,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in LOGM. FMR LLC grew its holdings in LogMein by 45.9% during the 2nd quarter. FMR LLC now owns 4,236,789 shares of the software maker’s stock valued at $442,745,000 after buying an additional 1,333,687 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of LogMein by 49.8% during the second quarter. Bank of New York Mellon Corp now owns 1,564,888 shares of the software maker’s stock worth $163,531,000 after purchasing an additional 520,318 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of LogMein by 86.2% during the second quarter. American Century Companies Inc. now owns 1,017,898 shares of the software maker’s stock worth $106,370,000 after purchasing an additional 471,356 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of LogMein by 159.3% during the second quarter. Voya Investment Management LLC now owns 565,396 shares of the software maker’s stock worth $59,084,000 after purchasing an additional 347,390 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of LogMein by 368.3% during the first quarter. Dimensional Fund Advisors LP now owns 332,772 shares of the software maker’s stock worth $32,446,000 after purchasing an additional 261,715 shares in the last quarter. Institutional investors and hedge funds own 99.32% of the company’s stock.
In related news, Director Steven J. Benson sold 3,016 shares of the stock in a transaction on Wednesday, September 13th. The stock was 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 Securities & Exchange Commission, which is available at this link. Also, insider Christopher Battles sold 1,136 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $119.43, for a total value of $135,672.48. Following the sale, the insider now directly owns 2,760 shares in the company, valued at $329,626.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,152 shares of company stock worth $2,710,858. Insiders own 2.50% of the company’s stock.
Shares of LogMein, Inc. (NASDAQ LOGM) traded up $1.45 during mid-day trading on Thursday, reaching $115.25. The company had a trading volume of 334,715 shares, compared to its average volume of 713,860. The stock has a market capitalization of $5,995.43, a PE ratio of 42.50, a price-to-earnings-growth ratio of 1.98 and a beta of 1.28. LogMein, Inc. has a 12 month low of $90.35 and a 12 month high of $129.51.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.05. The company had revenue of $269.30 million for 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 firm’s revenue for the quarter was up 216.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. equities analysts anticipate that LogMein, Inc. will post 3.28 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Wednesday, November 8th were paid a $0.25 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.87%. LogMein’s dividend payout ratio is currently 909.17%.
LOGM has been the subject of several recent analyst reports. Piper Jaffray Companies reissued an “overweight” rating and set a $170.00 price objective on shares of LogMein in a report on Wednesday, August 9th. Cowen reaffirmed a “buy” rating and issued a $134.00 target price on shares of LogMein in a research note on Friday, September 1st. Robert W. Baird reaffirmed a “hold” rating and issued a $130.00 target price on shares of LogMein in a research note on Friday, September 1st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $140.00 target price on shares of LogMein in a research note on Monday, September 4th. Finally, Zacks Investment Research lowered LogMein from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. LogMein has a consensus rating of “Buy” and a consensus price target of $135.96.
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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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