King Luther Capital Management Corp increased its position in shares of LogMeIn Inc (NASDAQ:LOGM) by 68.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 353,232 shares of the software maker’s stock after acquiring an additional 143,928 shares during the quarter. King Luther Capital Management Corp owned about 0.69% of LogMeIn worth $31,473,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Smith Asset Management Group LP raised its holdings in LogMeIn by 3.4% during the 3rd quarter. Smith Asset Management Group LP now owns 20,773 shares of the software maker’s stock worth $1,851,000 after buying an additional 690 shares during the period. Sigma Planning Corp raised its holdings in shares of LogMeIn by 39.5% in the second quarter. Sigma Planning Corp now owns 2,580 shares of the software maker’s stock valued at $266,000 after purchasing an additional 730 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of LogMeIn by 2.3% in the second quarter. Arizona State Retirement System now owns 36,250 shares of the software maker’s stock valued at $3,743,000 after purchasing an additional 830 shares during the last quarter. US Bancorp DE raised its holdings in shares of LogMeIn by 23.5% in the third quarter. US Bancorp DE now owns 4,376 shares of the software maker’s stock valued at $390,000 after purchasing an additional 833 shares during the last quarter. Finally, People s United Financial Inc. raised its holdings in shares of LogMeIn by 16.0% in the second quarter. People s United Financial Inc. now owns 6,224 shares of the software maker’s stock valued at $643,000 after purchasing an additional 860 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.
LOGM has been the topic of a number of recent research reports. UBS Group upgraded shares of LogMeIn from a “market perform” rating to an “outperform” rating in a report on Monday, October 1st. TheStreet upgraded shares of LogMeIn from a “c+” rating to a “b-” rating in a report on Monday, November 26th. Piper Jaffray Companies lowered their price objective on shares of LogMeIn from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, October 15th. Needham & Company LLC lowered their price objective on shares of LogMeIn from $112.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, September 7th. Finally, BidaskClub upgraded shares of LogMeIn from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $110.10.
In other LogMeIn news, Director Michael K. Simon sold 20,000 shares of LogMeIn stock in a transaction on Monday, November 5th. The shares were sold at an average price of $85.70, for a total transaction of $1,714,000.00. Following the completion of the transaction, the director now directly owns 607,026 shares of the company’s stock, valued at $52,022,128.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.
NASDAQ LOGM opened at $88.40 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.62 and a current ratio of 0.62. LogMeIn Inc has a 12-month low of $74.87 and a 12-month high of $134.80. The company has a market capitalization of $4.52 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.15 and a beta of 1.05.
LogMeIn (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, October 25th. The software maker reported $1.40 EPS for the quarter, topping the Zacks’ 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. On average, analysts predict that LogMeIn Inc will post 4.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Wednesday, November 14th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.36%. LogMeIn’s dividend payout ratio (DPR) is 35.82%.
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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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