Eagle Asset Management Inc. Decreases Holdings in LogMeIn Inc (LOGM)

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Eagle Asset Management Inc. cut its stake in shares of LogMeIn Inc (NASDAQ:LOGM) by 54.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 158,741 shares of the software maker’s stock after selling 188,614 shares during the period. Eagle Asset Management Inc.’s holdings in LogMeIn were worth $16,390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Natixis Advisors L.P. raised its stake in LogMeIn by 2.1% during the 1st quarter. Natixis Advisors L.P. now owns 23,714 shares of the software maker’s stock valued at $2,740,000 after buying an additional 479 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in LogMeIn by 4.2% during the 1st quarter. Thrivent Financial for Lutherans now owns 11,956 shares of the software maker’s stock valued at $1,382,000 after buying an additional 480 shares during the last quarter. Brinker Capital Inc. raised its stake in LogMeIn by 5.2% during the 1st quarter. Brinker Capital Inc. now owns 10,382 shares of the software maker’s stock valued at $1,200,000 after buying an additional 517 shares during the last quarter. Stifel Financial Corp raised its stake in LogMeIn by 4.9% during the 1st quarter. Stifel Financial Corp now owns 11,167 shares of the software maker’s stock valued at $1,251,000 after buying an additional 522 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in LogMeIn by 1.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 31,281 shares of the software maker’s stock valued at $3,614,000 after buying an additional 549 shares during the last quarter.

A number of equities research analysts have weighed in on the stock. ValuEngine lowered shares of LogMeIn from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Robert W. Baird lowered LogMeIn from an “outperform” rating to a “neutral” rating in a research note on Friday, July 27th. Zacks Investment Research upgraded LogMeIn from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Needham & Company LLC reduced their price objective on LogMeIn from $135.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Finally, Piper Jaffray Companies lowered LogMeIn from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $95.00 in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $121.10.

NASDAQ:LOGM opened at $78.90 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $4.16 billion, a PE ratio of 23.55, a P/E/G ratio of 1.09 and a beta of 1.06. LogMeIn Inc has a one year low of $77.05 and a one year high of $134.80.

LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, July 26th. The software maker reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $307.00 million during the quarter, compared to analyst estimates of $305.13 million. LogMeIn had a return on equity of 6.75% and a net margin of 12.34%. LogMeIn’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. sell-side analysts expect that LogMeIn Inc will post 4.2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Wednesday, August 8th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. LogMeIn’s dividend payout ratio (DPR) is 35.82%.

In related news, insider W. Sean Ford sold 2,160 shares of the company’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $110.79, for a total value of $239,306.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $108.53, for a total transaction of $2,170,600.00. Following the completion of the transaction, the director now directly owns 689,595 shares of the company’s stock, valued at approximately $74,841,745.35. The disclosure for this sale can be found here. Insiders sold a total of 101,281 shares of company stock valued at $10,413,046 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

LogMeIn Profile

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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