Bray Capital Advisors Purchases New Stake in LogMeIn Inc (LOGM)

Bray Capital Advisors purchased a new position in shares of LogMeIn Inc (NASDAQ:LOGM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,780 shares of the software maker’s stock, valued at approximately $204,000.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of LogMeIn by 341.2% during the third quarter. JPMorgan Chase & Co. now owns 330,181 shares of the software maker’s stock worth $35,429,000 after purchasing an additional 255,338 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of LogMeIn by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 378,597 shares of the software maker’s stock worth $39,566,000 after purchasing an additional 45,825 shares during the last quarter. Profit Investment Management LLC bought a new position in shares of LogMeIn during the third quarter worth about $932,000. AXA bought a new position in shares of LogMeIn during the third quarter worth about $6,042,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of LogMeIn by 31.4% during the third quarter. Cubist Systematic Strategies LLC now owns 26,593 shares of the software maker’s stock worth $2,927,000 after purchasing an additional 6,360 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of LogMeIn Inc (NASDAQ:LOGM) opened at $120.00 on Tuesday. LogMeIn Inc has a 12 month low of $90.35 and a 12 month high of $129.51. The company has a market cap of $6,500.00, a P/E ratio of 1,090.91, a price-to-earnings-growth ratio of 1.77 and a beta of 1.36.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Monday, February 12th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, February 9th. This is a positive change from LogMeIn’s previous quarterly dividend of $0.25. LogMeIn’s dividend payout ratio (DPR) is currently 909.09%.

A number of equities analysts have issued reports on LOGM shares. Piper Jaffray Companies reissued a “buy” rating and issued a $170.00 target price on shares of LogMeIn in a report on Tuesday, October 24th. Needham & Company LLC cut their target price on shares of LogMeIn from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of LogMeIn from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Wednesday, November 1st. Cowen restated a “buy” rating and issued a $145.00 price target on shares of LogMeIn in a research note on Sunday, October 29th. Finally, BidaskClub upgraded shares of LogMeIn from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $136.52.

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About LogMeIn

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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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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