Tangoe Inc. (TNGO) Stock Price Down 3%
Tangoe Inc. (NASDAQ:TNGO) shares traded down 3% on Thursday . The company traded as low as $7.46 and last traded at $7.52, with a volume of 113,034 shares. The stock had previously closed at $7.75.
A number of research analysts have weighed in on the company. Barrington Research lowered Tangoe from an “outperform” rating to a “market perform” rating in a research note on Thursday. Raymond James Financial Inc. reissued a “market perform” rating on shares of Tangoe in a research note on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $10.30.
The firm has a 50-day moving average of $8.02 and a 200 day moving average of $7.98. The stock’s market cap is $305.98 million.
In other news, major shareholder Clearlake Capital Partners Iv bought 1,202,666 shares of the company’s stock in a transaction that occurred on Wednesday, April 13th. The shares were purchased at an average price of $7.25 per share, with a total value of $8,719,328.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently raised its position in Tangoe stock. Principal Financial Group Inc. raised its stake in Tangoe Inc. (NASDAQ:TNGO) by 5.1% during the fourth quarter, Holdings Channel reports. The firm owned 246,556 shares of the company’s stock after buying an additional 11,896 shares during the period. Principal Financial Group Inc. owned 0.63% of Tangoe worth $2,069,000 as of its most recent filing with the SEC.
Tangoe, Inc (Tangoe) is a global provider of connection lifecycle management (CLM), software and services to a range of enterprises and service providers. CLM covers the entire spectrum of an enterprise’s connection-based assets and services, such as voice and data services, mobile devices and usage, cloud software, infrastructure and services, machine-to-machine connections, enterprise social and information technology connections, and encompasses the entire lifecycle of these assets and services, including planning and sourcing, procurement and provisioning, inventory and usage management, mobile device management (MDM), real-time telecommunications expense management (rTEM), invoice processing and payment, expense allocation and accounting, and asset decommissioning and disposal.
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