LogMein, Inc. (LOGM) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of LogMein, Inc. (NASDAQ:LOGM) by 9.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,140 shares of the software maker’s stock after acquiring an additional 189 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in LogMein were worth $224,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning increased its position in LogMein by 0.3% during the second quarter. Creative Planning now owns 1,147 shares of the software maker’s stock worth $120,000 after buying an additional 3 shares during the period. American Capital Management Inc. acquired a new position in LogMein during the second quarter worth approximately $203,000. Osborn Williams & Donohoe LLC acquired a new position in LogMein during the second quarter worth approximately $203,000. Trexquant Investment LP acquired a new position in LogMein during the second quarter worth approximately $209,000. Finally, BB&T Securities LLC acquired a new position in LogMein during the second quarter worth approximately $210,000. 95.69% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on LOGM shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $140.00 price target on shares of LogMein in a research report on Monday, September 4th. KeyCorp raised LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research report on Friday, July 28th. BidaskClub raised LogMein from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Cowen and Company reaffirmed a “buy” rating and set a $134.00 price target on shares of LogMein in a research report on Friday, September 1st. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $150.00 price target on shares of LogMein in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $131.85.
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LogMein, Inc. (LOGM) opened at 111.20 on Friday. The firm has a 50 day moving average price of $113.77 and a 200 day moving average price of $108.51. The stock’s market capitalization is $5.86 billion. LogMein, Inc. has a 52 week low of $86.22 and a 52 week high of $123.95.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $266.95 million for the quarter, compared to analysts’ expectations of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The business’s quarterly revenue was up 220.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Equities research analysts predict that LogMein, Inc. will post $4.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Wednesday, August 9th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Monday, August 7th. LogMein’s dividend payout ratio (DPR) is -909.01%.
In related news, CEO William Raymond Wagner sold 4,588 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $116.30, for a total value of $533,584.40. Following the completion of the transaction, the chief executive officer now directly owns 69,542 shares of the company’s stock, valued at approximately $8,087,734.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Benson sold 3,016 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $111.60, for a total value of $336,585.60. Following the completion of the transaction, the director now directly owns 1,787 shares of the company’s stock, valued at $199,429.20. The disclosure for this sale can be found here. Insiders sold a total of 69,319 shares of company stock valued at $7,922,367 over the last three months. Corporate insiders own 2.50% of the company’s stock.
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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