Massachusetts Financial Services Co. MA Buys 200,180 Shares of LogMeIn Inc (LOGM)

Massachusetts Financial Services Co. MA increased its stake in LogMeIn Inc (NASDAQ:LOGM) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,385,771 shares of the software maker’s stock after acquiring an additional 200,180 shares during the period. Massachusetts Financial Services Co. MA owned about 2.67% of LogMeIn worth $123,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its holdings in shares of LogMeIn by 15.2% during the 3rd quarter. Retirement Systems of Alabama now owns 147,030 shares of the software maker’s stock worth $13,100,000 after acquiring an additional 19,422 shares during the period. Fisher Asset Management LLC grew its holdings in shares of LogMeIn by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 78,553 shares of the software maker’s stock worth $6,999,000 after acquiring an additional 1,367 shares during the period. AMI Asset Management Corp grew its holdings in shares of LogMeIn by 35.2% during the 3rd quarter. AMI Asset Management Corp now owns 154,680 shares of the software maker’s stock worth $13,782,000 after acquiring an additional 40,277 shares during the period. Seven Eight Capital LP grew its holdings in shares of LogMeIn by 107.1% during the 3rd quarter. Seven Eight Capital LP now owns 49,507 shares of the software maker’s stock worth $4,411,000 after acquiring an additional 25,600 shares during the period. Finally, Oakbrook Investments LLC purchased a new position in shares of LogMeIn during the 3rd quarter worth approximately $597,000. 98.86% of the stock is owned by institutional investors.

LogMeIn stock opened at $83.92 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $4.36 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.15 and a beta of 1.09. LogMeIn Inc has a twelve month low of $74.87 and a twelve month high of $134.80.

LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, October 25th. The software maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $309.58 million for the quarter, compared to the consensus estimate of $302.92 million. LogMeIn had a return on equity of 7.19% and a net margin of 12.16%. On average, analysts expect that LogMeIn Inc will post 4.2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, November 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.43%. LogMeIn’s dividend payout ratio is 35.82%.

In other LogMeIn news, insider Christopher Battles sold 2,530 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $81.13, for a total transaction of $205,258.90. Following the sale, the insider now directly owns 5,468 shares in the company, valued at approximately $443,618.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael K. Simon sold 20,000 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $80.92, for a total value of $1,618,400.00. Following the sale, the director now owns 664,053 shares in the company, valued at $53,735,168.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,790 shares of company stock worth $5,190,442. Company insiders own 2.30% of the company’s stock.

LOGM has been the topic of a number of research analyst reports. Zacks Investment Research upgraded LogMeIn from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. BidaskClub upgraded LogMeIn from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $96.00 price target (down previously from $145.00) on shares of LogMeIn in a research note on Friday, July 27th. Robert W. Baird downgraded LogMeIn from an “outperform” rating to a “neutral” rating in a research note on Friday, July 27th. Finally, Royal Bank of Canada downgraded LogMeIn from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $140.00 to $90.00 in a research note on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $113.50.

LogMeIn Company Profile

LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.

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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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