KBC Group NV decreased its stake in LogMein, Inc. (NASDAQ:LOGM) by 98.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,022 shares of the software maker’s stock after selling 141,530 shares during the period. KBC Group NV’s holdings in LogMein were worth $223,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Group LLC lifted its stake in shares of LogMein by 0.9% in the second quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock valued at $360,000 after purchasing an additional 32 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of LogMein by 110.0% in the second quarter. Neuberger Berman Group LLC now owns 210,764 shares of the software maker’s stock valued at $22,025,000 after purchasing an additional 110,384 shares during the period. Wells Fargo & Company MN lifted its stake in shares of LogMein by 23.6% in the second quarter. Wells Fargo & Company MN now owns 866,387 shares of the software maker’s stock valued at $90,537,000 after purchasing an additional 165,690 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of LogMein by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 378,597 shares of the software maker’s stock valued at $39,566,000 after purchasing an additional 45,825 shares during the period. Finally, Laurion Capital Management LP acquired a new stake in shares of LogMein in the second quarter valued at about $5,086,000. Hedge funds and other institutional investors own 99.32% of the company’s stock.
Several analysts recently commented on LOGM shares. Cowen reiterated a “buy” rating and issued a $134.00 price objective on shares of LogMein in a research note on Friday, September 1st. Royal Bank of Canada restated a “buy” rating and set a $140.00 target price on shares of LogMein in a report on Monday, September 4th. Robert W. Baird restated a “hold” rating and set a $130.00 target price on shares of LogMein in a report on Friday, September 1st. Piper Jaffray Companies restated a “buy” rating and set a $170.00 target price on shares of LogMein in a report on Tuesday, October 24th. Finally, Barclays raised their target price on shares of LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $135.96.
LogMein, Inc. (NASDAQ:LOGM) opened at $118.75 on Monday. LogMein, Inc. has a twelve month low of $90.35 and a twelve month high of $129.51. The firm has a market cap of $6,250.00, a PE ratio of 44.31, a price-to-earnings-growth ratio of 2.07 and a beta of 1.28.
LogMein (NASDAQ:LOGM) last posted its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.05. LogMein had a net margin of 1.01% and a return on equity of 5.50%. The firm had revenue of $269.30 million during the quarter, compared to the consensus estimate of $270.56 million. During the same period last year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was up 216.5% on a year-over-year basis. analysts forecast that LogMein, Inc. will post 3.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.84%. LogMein’s dividend payout ratio (DPR) is currently 909.09%.
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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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