Macquarie Group Ltd. lifted its holdings in LogMeIn Inc (NASDAQ:LOGM) by 357.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 173,911 shares of the software maker’s stock after buying an additional 135,931 shares during the quarter. Macquarie Group Ltd. owned approximately 0.33% of LogMeIn worth $19,906,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its position in LogMeIn by 1.6% in the 4th quarter. BlackRock Inc. now owns 4,383,540 shares of the software maker’s stock valued at $501,914,000 after purchasing an additional 67,066 shares during the last quarter. Wells Fargo & Company MN lifted its position in LogMeIn by 31.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,005,473 shares of the software maker’s stock valued at $229,626,000 after purchasing an additional 483,790 shares during the last quarter. Bank of New York Mellon Corp lifted its position in LogMeIn by 30.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,915,622 shares of the software maker’s stock valued at $219,338,000 after purchasing an additional 446,395 shares during the last quarter. Alliancebernstein L.P. lifted its position in LogMeIn by 8.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,309,114 shares of the software maker’s stock valued at $149,894,000 after purchasing an additional 103,056 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in LogMeIn by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,274,465 shares of the software maker’s stock valued at $145,926,000 after purchasing an additional 79,880 shares during the last quarter. Institutional investors own 99.23% of the company’s stock.
Several analysts recently weighed in on LOGM shares. Needham & Company LLC cut their price objective on shares of LogMeIn from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, December 20th. BidaskClub upgraded shares of LogMeIn from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of LogMeIn from a “sell” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Oppenheimer reiterated a “hold” rating on shares of LogMeIn in a research report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $137.63.
LogMeIn (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, February 15th. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. LogMeIn had a net margin of 10.06% and a return on equity of 5.57%. The company had revenue of $276.03 million for the quarter, compared to the consensus estimate of $276.75 million. During the same period in the previous year, the firm earned $0.62 EPS. LogMeIn’s revenue was up 213.8% on a year-over-year basis. sell-side analysts forecast that LogMeIn Inc will post 4.02 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 12th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. This is an increase from LogMeIn’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 9th. LogMeIn’s payout ratio is 67.42%.
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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