Nationwide Fund Advisors raised its holdings in LogMein, Inc. (NASDAQ:LOGM) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 199,227 shares of the software maker’s stock after buying an additional 2,179 shares during the quarter. Nationwide Fund Advisors owned about 0.38% of LogMein worth $21,925,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in LogMein by 368.3% in the first quarter. Dimensional Fund Advisors LP now owns 332,772 shares of the software maker’s stock valued at $32,446,000 after purchasing an additional 261,715 shares during the period. Creative Planning raised its position in LogMein by 0.3% in the second quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after purchasing an additional 3 shares during the period. Aperio Group LLC raised its position in LogMein by 19.9% in the second quarter. Aperio Group LLC now owns 32,889 shares of the software maker’s stock valued at $3,437,000 after purchasing an additional 5,463 shares during the period. State Treasurer State of Michigan raised its holdings in shares of LogMein by 1.4% in the 2nd quarter. State Treasurer State of Michigan now owns 21,702 shares of the software maker’s stock valued at $2,268,000 after buying an additional 300 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of LogMein by 111.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 224,990 shares of the software maker’s stock valued at $23,515,000 after buying an additional 118,401 shares during the period. Institutional investors own 99.32% of the company’s stock.
Several research analysts recently commented on the company. Zacks Investment Research cut LogMein from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Piper Jaffray Companies reissued an “overweight” rating and issued a $170.00 target price on shares of LogMein in a research report on Wednesday, August 9th. Robert W. Baird reaffirmed a “hold” rating and set a $130.00 price objective on shares of LogMein in a research note on Friday, September 1st. Barclays increased their target price on LogMein from $132.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Finally, Cowen reaffirmed a “buy” rating and issued a $134.00 price objective on shares of LogMein in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. LogMein presently has an average rating of “Buy” and a consensus target price of $135.96.
In other news, Director Steven J. Benson sold 3,016 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were 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 through the SEC website. Also, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $111.93, for a total transaction of $2,238,600.00. Following the completion of the transaction, the director now directly owns 765,579 shares in the company, valued at $85,691,257.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,152 shares of company stock worth $2,710,858. Company insiders own 2.50% of the company’s stock.
LogMein, Inc. (NASDAQ LOGM) opened at $113.80 on Thursday. The company has a market capitalization of $5,995.43, a P/E ratio of 42.50, a price-to-earnings-growth ratio of 1.98 and a beta of 1.28. LogMein, Inc. has a 52 week low of $90.35 and a 52 week high of $129.51.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, October 26th. The software maker reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $270.56 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The business’s revenue was up 216.5% on a year-over-year basis. research analysts forecast that LogMein, Inc. will post 3.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, November 7th. LogMein’s dividend payout ratio (DPR) is currently 909.17%.
LogMein Company Profile
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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