Tangoe Inc. (TNGO) Sets New 12-Month High at $9.59
Shares of Tangoe Inc. (NASDAQ:TNGO) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $9.59 and last traded at $9.49, with a volume of 31,222 shares trading hands. The stock had previously closed at $9.26.
A number of analysts have recently issued reports on the company. Roth Capital restated a “buy” rating on shares of Tangoe in a research report on Sunday, July 10th. Raymond James Financial Inc. restated a “market perform” rating on shares of Tangoe in a research report on Wednesday, April 20th. Finally, Barrington Research lowered Tangoe from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.38.
The company’s 50 day moving average is $8.04 and its 200 day moving average is $7.98. The company’s market cap is $372.61 million.
In other news, major shareholder Clearlake Capital Partners Iv sold 1,590,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $8.00, for a total value of $12,720,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
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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