Public Employees Retirement Association of Colorado Sells 1,838 Shares of LogMeIn Inc (LOGM)

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Public Employees Retirement Association of Colorado lowered its stake in LogMeIn Inc (NASDAQ:LOGM) by 18.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,327 shares of the software maker’s stock after selling 1,838 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in LogMeIn were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in LogMeIn by 209.5% during the 4th quarter. Hsbc Holdings PLC now owns 11,243 shares of the software maker’s stock valued at $911,000 after purchasing an additional 7,610 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of LogMeIn by 2.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 397,635 shares of the software maker’s stock valued at $32,435,000 after acquiring an additional 9,800 shares in the last quarter. Diversified Trust Co raised its holdings in shares of LogMeIn by 4.2% during the fourth quarter. Diversified Trust Co now owns 4,721 shares of the software maker’s stock valued at $385,000 after acquiring an additional 189 shares in the last quarter. American Capital Management Inc. raised its holdings in shares of LogMeIn by 38.2% during the fourth quarter. American Capital Management Inc. now owns 416,968 shares of the software maker’s stock valued at $34,012,000 after acquiring an additional 115,153 shares in the last quarter. Finally, Renaissance Group LLC raised its holdings in shares of LogMeIn by 23.0% during the fourth quarter. Renaissance Group LLC now owns 4,795 shares of the software maker’s stock valued at $391,000 after acquiring an additional 897 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Michael K. Simon sold 22,500 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $82.29, for a total value of $1,851,525.00. Following the sale, the director now directly owns 531,864 shares of the company’s stock, valued at $43,767,088.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 67,500 shares of company stock worth $5,505,300. Insiders own 2.40% of the company’s stock.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded LogMeIn from a “buy” rating to a “hold” rating in a report on Monday. Northland Securities restated a “buy” rating and set a $125.00 target price on shares of LogMeIn in a report on Friday, April 26th. TheStreet downgraded LogMeIn from a “b” rating to a “c” rating in a report on Friday, April 26th. BidaskClub downgraded LogMeIn from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Finally, Barclays downgraded LogMeIn from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $104.00 to $74.00 in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $95.30.

Shares of LOGM stock opened at $78.27 on Thursday. The firm has a market capitalization of $3.83 billion, a P/E ratio of 17.20, a PEG ratio of 1.59 and a beta of 1.02. LogMeIn Inc has a twelve month low of $74.87 and a twelve month high of $114.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.53 and a current ratio of 0.53.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.66%. LogMeIn’s dividend payout ratio is currently 28.57%.

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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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