Stevens Capital Management LP increased its position in LogMein, Inc. (NASDAQ:LOGM) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,813 shares of the software maker’s stock after acquiring an additional 2,153 shares during the quarter. Stevens Capital Management LP owned about 0.06% of LogMein worth $3,721,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of LOGM. FMR LLC boosted its position in shares of 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 acquiring an additional 1,333,687 shares during the last quarter. Bank of New York Mellon Corp lifted its position in LogMein by 49.8% in 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 buying an additional 520,318 shares during the last quarter. American Century Companies Inc. lifted its position in LogMein by 86.2% in the second quarter. American Century Companies Inc. now owns 1,017,898 shares of the software maker’s stock worth $106,370,000 after buying an additional 471,356 shares during the last quarter. Voya Investment Management LLC lifted its position in LogMein by 159.3% in the second quarter. Voya Investment Management LLC now owns 565,396 shares of the software maker’s stock worth $59,084,000 after buying an additional 347,390 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in LogMein by 368.3% in the first quarter. Dimensional Fund Advisors LP now owns 332,772 shares of the software maker’s stock worth $32,446,000 after buying an additional 261,715 shares during the last quarter. Institutional investors and hedge funds own 96.62% of the company’s stock.
LOGM has been the topic of a number of recent analyst reports. Cowen and Company restated a “buy” rating and set a $134.00 price target on shares of LogMein in a research note on Friday, September 1st. BidaskClub upgraded LogMein from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada reiterated a “buy” rating and issued a $140.00 target price on shares of LogMein in a research note on Monday, September 4th. Robert W. Baird reiterated a “hold” rating and issued a $130.00 target price on shares of LogMein in a research note on Friday, September 1st. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $170.00 price target on shares of LogMein in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. LogMein has a consensus rating of “Buy” and an average target price of $135.96.
LogMein, Inc. (NASDAQ:LOGM) traded down $1.00 during trading on Friday, hitting $116.40. The stock had a trading volume of 260,020 shares, compared to its average volume of 621,429. The stock has a market capitalization of $6,130.00, a PE ratio of 42.72, a PEG ratio of 1.99 and a beta of 1.34. LogMein, Inc. has a 1-year low of $90.35 and a 1-year high of $129.51.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, October 26th. The software maker reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.05. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The business had revenue of $269.30 million during the quarter, compared to analysts’ expectations of $270.56 million. During the same period in the previous year, the business earned $0.56 earnings per share. The business’s revenue was up 216.5% compared to the same quarter last year. equities analysts predict that LogMein, Inc. will post 3.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Wednesday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, November 7th. LogMein’s payout ratio is 909.09%.
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In other news, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $111.93, for a total value of $2,238,600.00. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Battles sold 1,136 shares of the company’s 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 completion of the transaction, the insider now directly owns 2,760 shares in the company, valued at approximately $329,626.80. The disclosure for this sale can be found here. Insiders have sold 24,152 shares of company stock valued at $2,710,858 over the last quarter. 2.50% of the stock is owned by company insiders.
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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