Bank of New York Mellon Corp Has $2,931,000 Position in Tangoe Inc. (TNGO)
Bank of New York Mellon Corp cut its stake in shares of Tangoe Inc. (NASDAQ:TNGO) by 11.3% during the second quarter, Holdings Channel reports. The fund owned 379,586 shares of the company’s stock after selling 48,173 shares during the period. Bank of New York Mellon Corp owned 0.96% of Tangoe worth $2,931,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Tangoe by 0.5% in the first quarter. State Street Corp now owns 667,701 shares of the company’s stock valued at $5,267,000 after buying an additional 3,527 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Tangoe by 3.4% in the first quarter. Renaissance Technologies LLC now owns 364,500 shares of the company’s stock valued at $2,876,000 after buying an additional 12,100 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tangoe by 5.4% in the first quarter. Geode Capital Management LLC now owns 253,214 shares of the company’s stock valued at $1,997,000 after buying an additional 12,959 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Tangoe by 3.5% in the first quarter. Prudential Financial Inc. now owns 88,392 shares of the company’s stock valued at $697,000 after buying an additional 3,000 shares during the last quarter. Finally, Spark Investment Management LLC bought a new stake in shares of Tangoe during the first quarter valued at approximately $197,000. Institutional investors and hedge funds own 61.03% of the company’s stock.
Shares of Tangoe Inc. (NASDAQ:TNGO) traded down 0.48% during trading on Friday, hitting $8.25. The stock had a trading volume of 124,341 shares. Tangoe Inc. has a 52 week low of $5.32 and a 52 week high of $10.12. The stock’s market capitalization is $325.30 million. The firm has a 50 day moving average price of $8.94 and a 200-day moving average price of $8.27.
TNGO has been the topic of a number of research analyst reports. Barrington Research cut Tangoe from an “outperform” rating to a “market perform” rating in a report on Thursday, July 7th. TheStreet upgraded Tangoe from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th. Finally, Roth Capital restated a “buy” rating on shares of Tangoe in a report on Sunday, July 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.38.
Tangoe Company Profile
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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