US Bancorp DE reduced its position in LogMeIn Inc (NASDAQ:LOGM) by 19.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,661 shares of the software maker’s stock after selling 1,109 shares during the period. US Bancorp DE’s holdings in LogMeIn were worth $534,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of LogMeIn by 3.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,507 shares of the software maker’s stock valued at $1,597,000 after purchasing an additional 423 shares in the last quarter. Smith Asset Management Group LP lifted its stake in shares of LogMeIn by 1.5% in the 3rd quarter. Smith Asset Management Group LP now owns 31,386 shares of the software maker’s stock valued at $3,454,000 after purchasing an additional 466 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of LogMeIn by 5.0% in the 3rd quarter. Nordea Investment Management AB now owns 11,612 shares of the software maker’s stock valued at $1,278,000 after purchasing an additional 548 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of LogMeIn by 0.8% in the 4th quarter. Fisher Asset Management LLC now owns 77,747 shares of the software maker’s stock valued at $8,902,000 after purchasing an additional 579 shares in the last quarter. Finally, Comerica Bank raised its holdings in shares of LogMeIn by 1.7% during the 4th quarter. Comerica Bank now owns 41,834 shares of the software maker’s stock valued at $5,135,000 after buying an additional 706 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of LogMeIn Inc (NASDAQ LOGM) opened at $117.60 on Friday. LogMeIn Inc has a twelve month low of $90.35 and a twelve month high of $134.80. The stock has a market capitalization of $6,165.89, a P/E ratio of 35.42, a price-to-earnings-growth ratio of 1.67 and a beta of 1.36.
LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, February 15th. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. LogMeIn had a return on equity of 5.57% and a net margin of 10.06%. The company had revenue of $276.03 million for the quarter, compared to the consensus estimate of $276.75 million. During the same period in the previous year, the business earned $0.62 EPS. LogMeIn’s revenue for the quarter was up 213.8% compared to the same quarter last year. analysts forecast that LogMeIn Inc will post 4.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Monday, February 12th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, February 9th. This is an increase from LogMeIn’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 1.02%. LogMeIn’s payout ratio is currently 67.42%.
LOGM has been the topic of several analyst reports. Needham & Company LLC raised their target price on LogMeIn from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, February 16th. BidaskClub upgraded LogMeIn from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research upgraded LogMeIn from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a report on Wednesday, November 1st. Cowen reiterated a “buy” rating and set a $145.00 target price on shares of LogMeIn in a report on Sunday, October 29th. Finally, Oppenheimer reiterated a “hold” rating on shares of LogMeIn in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. LogMeIn has an average rating of “Buy” and an average target price of $137.63.
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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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