NJ State Employees Deferred Compensation Plan maintained its position in shares of LogMein, Inc. (NASDAQ:LOGM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,436 shares of the software maker’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in LogMein were worth $359,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nationwide Fund Advisors increased its position in shares of LogMein by 250.8% in the first quarter. Nationwide Fund Advisors now owns 207,318 shares of the software maker’s stock worth $20,214,000 after buying an additional 148,211 shares during the last quarter. Candriam Luxembourg S.C.A. bought a new position in shares of LogMein during the first quarter worth approximately $407,000. Diversified Trust Co increased its position in shares of LogMein by 1.0% in the first quarter. Diversified Trust Co now owns 2,726 shares of the software maker’s stock worth $266,000 after buying an additional 26 shares during the last quarter. Retirement Systems of Alabama bought a new position in shares of LogMein during the first quarter worth approximately $6,617,000. Finally, Nisa Investment Advisors LLC increased its position in shares of LogMein by 2,612.7% in the first quarter. Nisa Investment Advisors LLC now owns 8,138 shares of the software maker’s stock worth $793,000 after buying an additional 7,838 shares during the last quarter. 97.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LogMein, Inc. (NASDAQ LOGM) traded up 0.04% during trading on Friday, hitting $113.50. 296,444 shares of the stock were exchanged. The firm’s 50-day moving average is $112.29 and its 200 day moving average is $106.70. LogMein, Inc. has a 1-year low of $79.63 and a 1-year high of $123.95. The company’s market cap is $5.98 billion.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.08. The business had revenue of $266.95 million during the quarter, compared to the consensus estimate of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. LogMein’s revenue for the quarter was up 220.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Equities analysts forecast that LogMein, Inc. will post $4.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Wednesday, August 9th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, August 7th. LogMein’s dividend payout ratio (DPR) is presently -909.01%.
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Several research firms have commented on LOGM. Needham & Company LLC reissued a “buy” rating and issued a $125.00 target price (up from $110.00) on shares of LogMein in a research report on Friday, May 5th. 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. Cowen and Company reissued an “outperform” rating and issued a $134.00 target price (up from $130.00) on shares of LogMein in a research report on Sunday, July 30th. Zacks Investment Research downgraded shares of LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, BidaskClub cut shares of LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $127.74.
In other LogMein news, insider Christopher Battles sold 721 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total transaction of $84,919.38. Following the completion of the transaction, the insider now owns 2,036 shares of the company’s stock, valued at $239,800.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William Raymond Wagner sold 4,588 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.30, for a total value of $533,584.40. Following the transaction, the chief executive officer now directly owns 69,542 shares of the company’s stock, valued at approximately $8,087,734.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,860 shares of company stock valued at $13,258,245. 2.50% of the stock is owned by insiders.
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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