Epoch Investment Partners Inc. Takes $65.25 Million Position in LogMeIn Inc (LOGM)

Epoch Investment Partners Inc. purchased a new position in shares of LogMeIn Inc (NASDAQ:LOGM) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 732,363 shares of the software maker’s stock, valued at approximately $65,253,000.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in LogMeIn by 0.3% during the 3rd quarter. BlackRock Inc. now owns 4,501,800 shares of the software maker’s stock worth $401,109,000 after buying an additional 11,846 shares during the period. First Trust Advisors LP raised its stake in LogMeIn by 20.5% during the 3rd quarter. First Trust Advisors LP now owns 1,806,406 shares of the software maker’s stock worth $160,951,000 after buying an additional 307,690 shares during the period. Bank of New York Mellon Corp raised its stake in LogMeIn by 10.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,663,880 shares of the software maker’s stock worth $148,252,000 after buying an additional 163,724 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of LogMeIn by 16.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,385,771 shares of the software maker’s stock worth $123,473,000 after purchasing an additional 200,180 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of LogMeIn by 3.8% in the second quarter. American Century Companies Inc. now owns 1,019,213 shares of the software maker’s stock worth $105,234,000 after purchasing an additional 37,424 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $92.37, for a total value of $1,847,400.00. Following the completion of the transaction, the director now directly owns 588,889 shares of the company’s stock, valued at $54,395,676.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 60,000 shares of company stock valued at $5,253,600 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Shares of NASDAQ LOGM opened at $87.81 on Friday. LogMeIn Inc has a 1-year low of $74.87 and a 1-year high of $134.80. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.15 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.62 and a quick ratio of 0.62.

LogMeIn (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, October 25th. The software maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. LogMeIn had a return on equity of 7.19% and a net margin of 12.16%. The business had revenue of $309.58 million during the quarter, compared to analyst estimates of $302.92 million. Analysts anticipate that LogMeIn Inc will post 4.38 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Wednesday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Tuesday, November 13th. LogMeIn’s dividend payout ratio (DPR) is 35.82%.

Several analysts have recently commented on the company. Zacks Investment Research raised LogMeIn from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research note on Friday, November 16th. BidaskClub raised LogMeIn from a “hold” rating to a “buy” rating in a research note on Thursday, November 22nd. TheStreet raised LogMeIn from a “c+” rating to a “b-” rating in a research note on Monday, November 26th. Needham & Company LLC lowered their price objective on LogMeIn from $112.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, September 7th. Finally, Barclays increased their price objective on LogMeIn from $112.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $110.10.

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LogMeIn Company Profile

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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