Federated Investors Inc. PA Lowers Holdings in LogMeIn Inc (NASDAQ:LOGM)

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Federated Investors Inc. PA trimmed its stake in LogMeIn Inc (NASDAQ:LOGM) by 13.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,802 shares of the software maker’s stock after selling 19,698 shares during the period. Federated Investors Inc. PA’s holdings in LogMeIn were worth $9,836,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in LogMeIn by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 58,530 shares of the software maker’s stock worth $5,215,000 after buying an additional 3,719 shares in the last quarter. Vanguard Group Inc lifted its stake in LogMeIn by 1.4% in the third quarter. Vanguard Group Inc now owns 4,579,956 shares of the software maker’s stock worth $408,073,000 after acquiring an additional 63,104 shares during the period. IFP Advisors Inc lifted its stake in LogMeIn by 853.7% in the fourth quarter. IFP Advisors Inc now owns 782 shares of the software maker’s stock worth $63,000 after acquiring an additional 700 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in LogMeIn in the fourth quarter worth $96,000. Finally, Rhumbline Advisers raised its holdings in LogMeIn by 28.7% in the fourth quarter. Rhumbline Advisers now owns 132,867 shares of the software maker’s stock worth $10,838,000 after purchasing an additional 29,614 shares in the last quarter. 97.11% of the stock is owned by hedge funds and other institutional investors.

In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $75.79, for a total transaction of $1,705,275.00. Following the completion of the sale, the director now owns 504,753 shares of the company’s stock, valued at $38,255,229.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Shares of LOGM stock opened at $70.78 on Wednesday. LogMeIn Inc has a fifty-two week low of $69.18 and a fifty-two week high of $114.45. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $3.59 billion, a PE ratio of 15.56, a PEG ratio of 1.49 and a beta of 1.11.

LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, April 25th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.27. The company had revenue of $307.70 million for the quarter, compared to the consensus estimate of $305.57 million. LogMeIn had a return on equity of 7.68% and a net margin of 2.89%. LogMeIn’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 earnings per share. Research analysts anticipate that LogMeIn Inc will post 3.86 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Wednesday, May 8th were issued a $0.325 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.30 annualized dividend and a dividend yield of 1.84%. LogMeIn’s dividend payout ratio is presently 28.57%.

Several brokerages have recently weighed in on LOGM. Zacks Investment Research downgraded LogMeIn from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. BidaskClub downgraded LogMeIn from a “buy” rating to a “hold” rating in a report on Monday, May 20th. TheStreet cut LogMeIn from a “b” rating to a “c” rating in a research report on Friday, April 26th. Northland Securities reissued a “buy” rating and issued a $125.00 target price on shares of LogMeIn in a research report on Friday, April 26th. Finally, Barclays cut LogMeIn from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $104.00 to $74.00 in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $94.90.

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About LogMeIn

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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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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