LogMeIn (NASDAQ:LOGM) Earns Hold Rating from Analysts at Stephens

Stephens started coverage on shares of LogMeIn (NASDAQ:LOGM) in a report issued on Monday morning, Stock Target Advisor reports. The brokerage issued a hold rating and a $77.00 target price on the software maker’s stock.

Several other equities analysts have also commented on the stock. ValuEngine raised shares of LogMeIn from a sell rating to a hold rating in a report on Wednesday, October 2nd. 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. Barclays reduced their target price on shares of LogMeIn from $75.00 to $70.00 and set an underweight rating on the stock in a report on Friday, October 25th. KeyCorp reduced their target price on shares of LogMeIn from $98.00 to $90.00 and set an overweight rating on the stock in a report on Friday, October 25th. Finally, Northland Securities reaffirmed a buy rating on shares of LogMeIn in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $88.20.

Shares of NASDAQ:LOGM traded up $0.80 during trading on Monday, reaching $78.98. The company had a trading volume of 614,778 shares, compared to its average volume of 627,934. The company has a fifty day moving average of $69.19 and a two-hundred day moving average of $71.96. The stock has a market capitalization of $4.04 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 3.97 and a beta of 1.07. LogMeIn has a 12 month low of $62.02 and a 12 month high of $96.87. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.11.

LogMeIn (NASDAQ:LOGM) last released its earnings results on Thursday, October 24th. The software maker reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. LogMeIn had a net margin of 1.20% and a return on equity of 7.37%. The company had revenue of $317.20 million for the quarter, compared to analyst estimates of $316.29 million. During the same quarter last year, the firm earned $1.40 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that LogMeIn will post 4.08 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.30 annualized dividend and a yield of 1.65%. LogMeIn’s payout ratio is currently 28.57%.

In other news, Director Peter John Sacripanti sold 7,124 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $70.00, for a total value of $498,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Edward K. Herdiech sold 4,036 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $80.00, for a total transaction of $322,880.00. Following the completion of the sale, the chief financial officer now directly owns 20,572 shares of the company’s stock, valued at $1,645,760. The disclosure for this sale can be found here. Insiders have sold a total of 23,802 shares of company stock valued at $1,819,880 in the last three months. 2.40% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. First Trust Advisors LP lifted its position in shares of LogMeIn by 21.5% in the 2nd quarter. First Trust Advisors LP now owns 2,057,435 shares of the software maker’s stock worth $151,592,000 after purchasing an additional 363,552 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of LogMeIn by 9.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 62,033 shares of the software maker’s stock worth $4,402,000 after purchasing an additional 5,322 shares during the period. Prospect Capital Advisors LLC lifted its position in shares of LogMeIn by 48.1% in the 2nd quarter. Prospect Capital Advisors LLC now owns 219,600 shares of the software maker’s stock worth $16,180,000 after purchasing an additional 71,350 shares during the period. Elkfork Partners LLC lifted its position in shares of LogMeIn by 41.4% in the 2nd quarter. Elkfork Partners LLC now owns 57,154 shares of the software maker’s stock worth $4,211,000 after purchasing an additional 16,728 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of LogMeIn in the 2nd quarter worth about $620,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

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