Clearbridge Investments LLC lowered its position in LogMeIn Inc (NASDAQ:LOGM) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 881,235 shares of the software maker’s stock after selling 15,064 shares during the quarter. Clearbridge Investments LLC’s holdings in LogMeIn were worth $100,901,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. D.A. Davidson & CO. boosted its position in LogMeIn by 10.1% during the 4th quarter. D.A. Davidson & CO. now owns 4,557 shares of the software maker’s stock valued at $522,000 after acquiring an additional 417 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in LogMeIn by 3.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,507 shares of the software maker’s stock worth $1,597,000 after acquiring an additional 423 shares during the last quarter. Ranger Investment Management L.P. raised its stake in LogMeIn by 20.3% in the 4th quarter. Ranger Investment Management L.P. now owns 3,080 shares of the software maker’s stock worth $353,000 after acquiring an additional 520 shares during the last quarter. Nordea Investment Management AB raised its stake in LogMeIn by 5.0% in the 3rd quarter. Nordea Investment Management AB now owns 11,612 shares of the software maker’s stock worth $1,278,000 after acquiring an additional 548 shares during the last quarter. Finally, Amalgamated Bank raised its stake in LogMeIn by 5.7% in the 4th quarter. Amalgamated Bank now owns 10,755 shares of the software maker’s stock worth $1,231,000 after acquiring an additional 578 shares during the last quarter. 99.49% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on LOGM. BidaskClub upgraded LogMeIn from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Oppenheimer restated a “hold” rating on shares of LogMeIn in a research note on Wednesday, December 20th. Zacks Investment Research upgraded LogMeIn from a “sell” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Needham & Company LLC raised their target price on LogMeIn from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $137.63.
LogMeIn (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, February 15th. The software maker reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.03. The business had revenue of $276.03 million during the quarter, compared to analyst estimates of $276.75 million. LogMeIn had a return on equity of 5.57% and a net margin of 10.06%. The company’s revenue was up 213.8% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. analysts expect that LogMeIn Inc will post 4.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 12th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, February 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from LogMeIn’s previous quarterly dividend of $0.25. LogMeIn’s dividend payout ratio (DPR) is presently 67.42%.
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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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