Teachers Retirement System of The State of Kentucky Sells 13,834 Shares of LogMeIn Inc (LOGM)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of LogMeIn Inc (NASDAQ:LOGM) by 62.1% in the third quarter, Holdings Channel reports. The institutional investor owned 8,459 shares of the software maker’s stock after selling 13,834 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in LogMeIn were worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in shares of LogMeIn by 1.2% during the 2nd quarter. BlackRock Inc. now owns 4,489,954 shares of the software maker’s stock valued at $463,588,000 after buying an additional 54,657 shares during the last quarter. First Trust Advisors LP grew its position in shares of LogMeIn by 20.5% during the 3rd quarter. First Trust Advisors LP now owns 1,806,406 shares of the software maker’s stock valued at $160,951,000 after buying an additional 307,690 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of LogMeIn by 16.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,385,771 shares of the software maker’s stock valued at $123,473,000 after buying an additional 200,180 shares during the last quarter. American Century Companies Inc. grew its position in shares of LogMeIn by 3.8% during the 2nd quarter. American Century Companies Inc. now owns 1,019,213 shares of the software maker’s stock valued at $105,234,000 after buying an additional 37,424 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in LogMeIn by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 486,212 shares of the software maker’s stock worth $50,200,000 after purchasing an additional 53,046 shares during the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Several research analysts have commented on LOGM shares. UBS Group upgraded shares of LogMeIn from a “market perform” rating to an “outperform” rating in a research report on Monday, October 1st. BidaskClub upgraded shares of LogMeIn from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Zacks Investment Research cut shares of LogMeIn from a “buy” rating to a “hold” rating in a research report on Thursday, November 15th. Oppenheimer upgraded shares of LogMeIn from a “market perform” rating to an “outperform” rating and set a $105.00 target price for the company in a research report on Monday, October 1st. Finally, Piper Jaffray Companies decreased their target price on shares of LogMeIn from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, October 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. LogMeIn currently has a consensus rating of “Buy” and a consensus target price of $110.10.

In other news, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $85.70, for a total value of $1,714,000.00. Following the completion of the sale, the director now directly owns 607,026 shares of the company’s stock, valued at approximately $52,022,128.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.

NASDAQ LOGM opened at $92.71 on Tuesday. LogMeIn Inc has a 52 week low of $74.87 and a 52 week high of $134.80. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.20 and a beta of 1.05.

LogMeIn (NASDAQ:LOGM) last posted its earnings results on Thursday, October 25th. The software maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. LogMeIn had a net margin of 12.16% and a return on equity of 7.19%. The firm had revenue of $309.58 million during the quarter, compared to analysts’ expectations of $302.92 million. As a group, equities analysts expect that LogMeIn Inc will post 4.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Wednesday, November 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, November 13th. LogMeIn’s dividend payout ratio is currently 35.82%.

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About LogMeIn

LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.

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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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