Public Employees Retirement System of Ohio Decreases Stock Position in LogMeIn Inc (NASDAQ:LOGM)

Public Employees Retirement System of Ohio cut its holdings in LogMeIn Inc (NASDAQ:LOGM) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,572 shares of the software maker’s stock after selling 2,950 shares during the period. Public Employees Retirement System of Ohio owned about 0.08% of LogMeIn worth $2,842,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. GAM Holding AG boosted its position in shares of LogMeIn by 28.1% in the 2nd quarter. GAM Holding AG now owns 15,970 shares of the software maker’s stock worth $1,177,000 after buying an additional 3,500 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in LogMeIn by 40.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 29,786 shares of the software maker’s stock valued at $2,195,000 after purchasing an additional 8,650 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in LogMeIn by 318.6% in the 2nd quarter. Pacer Advisors Inc. now owns 27,411 shares of the software maker’s stock valued at $2,020,000 after purchasing an additional 20,862 shares in the last quarter. Crawford Investment Counsel Inc. lifted its holdings in LogMeIn by 13.9% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 39,675 shares of the software maker’s stock valued at $2,923,000 after purchasing an additional 4,850 shares in the last quarter. Finally, Bernzott Capital Advisors lifted its holdings in LogMeIn by 1.0% in the 2nd quarter. Bernzott Capital Advisors now owns 350,444 shares of the software maker’s stock valued at $25,821,000 after purchasing an additional 3,304 shares in the last quarter. Institutional investors and hedge funds own 95.59% of the company’s stock.

LOGM has been the topic of a number of recent research reports. Robert W. Baird set a $85.00 target price on shares of LogMeIn and gave the company a “hold” rating in a report on Friday, July 26th. Northland Securities restated a “buy” rating on shares of LogMeIn in a report on Friday, July 26th. BidaskClub upgraded shares of LogMeIn from a “strong sell” rating to a “sell” rating in a report on Thursday. Stephens restated an “equal weight” rating and issued a $77.00 target price on shares of LogMeIn in a report on Thursday, August 22nd. Finally, Zacks Investment Research upgraded shares of LogMeIn from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $91.11.

In related news, Director Peter John Sacripanti sold 7,124 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $70.00, for a total transaction of $498,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven J. Benson sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $66.96, for a total transaction of $66,960.00. Following the sale, the director now directly owns 2,223 shares of the company’s stock, valued at approximately $148,852.08. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

Shares of NASDAQ LOGM traded down $0.20 on Monday, reaching $68.64. 9,990 shares of the company traded hands, compared to its average volume of 339,564. LogMeIn Inc has a fifty-two week low of $65.11 and a fifty-two week high of $96.87. The company has a 50 day moving average of $70.51 and a 200 day moving average of $75.89. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $3.46 billion, a PE ratio of 15.07, a P/E/G ratio of 3.48 and a beta of 1.05.

LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, July 25th. The software maker reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.05. LogMeIn had a net margin of 1.82% and a return on equity of 7.44%. The company had revenue of $313.10 million during the quarter, compared to the consensus estimate of $310.98 million. During the same quarter in the prior year, the company posted $1.32 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts expect that LogMeIn Inc will post 4.02 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Tuesday, August 6th. LogMeIn’s dividend payout ratio (DPR) is presently 28.57%.

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.

Read More: Quantitative Easing

Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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