Retirement Systems of Alabama raised its position in LogMein, Inc. (NASDAQ:LOGM) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,916 shares of the software maker’s stock after buying an additional 45 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of LogMein worth $7,097,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of LogMein by 46.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,057 shares of the software maker’s stock worth $6,861,000 after buying an additional 22,462 shares during the last quarter. Creative Planning increased its position in shares of LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock worth $112,000 after buying an additional 673 shares during the last quarter. Bank of Montreal Can increased its position in shares of LogMein by 161.7% in the first quarter. Bank of Montreal Can now owns 222,197 shares of the software maker’s stock worth $21,663,000 after buying an additional 137,291 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of LogMein by 30.4% in the first quarter. Louisiana State Employees Retirement System now owns 13,300 shares of the software maker’s stock worth $1,297,000 after buying an additional 3,100 shares during the last quarter. Finally, Cim LLC increased its position in shares of LogMein by 26.1% in the first quarter. Cim LLC now owns 5,339 shares of the software maker’s stock worth $520,000 after buying an additional 1,104 shares during the last quarter. 97.39% of the stock is currently owned by institutional investors and hedge funds.
LogMein, Inc. (NASDAQ:LOGM) opened at 117.85 on Tuesday. LogMein, Inc. has a 52-week low of $79.63 and a 52-week high of $123.95. The company has a 50 day moving average price of $111.39 and a 200 day moving average price of $106.42. The firm’s market capitalization is $6.21 billion.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The firm had revenue of $266.95 million for the quarter, compared to analyst estimates of $264.95 million. During the same period last year, the business earned $0.49 EPS. LogMein’s revenue for the quarter was up 220.6% compared to the same quarter last year. On average, equities analysts forecast that LogMein, Inc. will post $4.06 EPS 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.00 annualized dividend and a yield of 0.85%. LogMein’s dividend payout ratio is currently -909.01%.
COPYRIGHT VIOLATION WARNING: This story was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://sportsperspectives.com/2017/08/15/logmein-inc-nasdaqlogm-stake-boosted-by-retirement-systems-of-alabama.html.
A number of equities analysts have recently issued reports on LOGM shares. TheStreet raised LogMein from a “c” rating to a “b-” rating in a research report on Wednesday, April 19th. Vetr downgraded LogMein from a “hold” rating to a “sell” rating and set a $101.67 price target on the stock. in a research report on Wednesday, April 26th. Zacks Investment Research downgraded LogMein from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Cowen and Company upped their price target on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price target (up from $110.00) on shares of LogMein in a research report on Friday, May 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $127.74.
In related news, SVP Lawrence M. D’angelo sold 4,412 shares of LogMein stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $109.99, for a total transaction of $485,275.88. Following the sale, the senior vice president now directly owns 6,476 shares in the company, valued at approximately $712,295.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Battles sold 721 shares of LogMein stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total transaction of $84,919.38. Following the sale, the insider now owns 2,036 shares in the company, valued at $239,800.08. The disclosure for this sale can be found here. Insiders have sold a total of 116,860 shares of company stock worth $13,258,245 over the last quarter. 2.50% of the stock is owned by company 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.
Want to see what other hedge funds are holding LOGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LogMein, Inc. (NASDAQ:LOGM).
Receive News & Ratings for LogMein Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMein Inc. and related companies with MarketBeat.com's FREE daily email newsletter.