Texas Permanent School Fund Increases Stake in LogMeIn Inc (LOGM)

Texas Permanent School Fund lifted its position in LogMeIn Inc (NASDAQ:LOGM) by 3.1% in the 1st quarter, HoldingsChannel reports. The fund owned 34,519 shares of the software maker’s stock after acquiring an additional 1,039 shares during the quarter. Texas Permanent School Fund’s holdings in LogMeIn were worth $2,765,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LOGM. Flagship Harbor Advisors LLC increased its position in LogMeIn by 59.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 567 shares of the software maker’s stock valued at $45,000 after buying an additional 211 shares in the last quarter. IFP Advisors Inc increased its position in LogMeIn by 853.7% during the 4th quarter. IFP Advisors Inc now owns 782 shares of the software maker’s stock valued at $63,000 after buying an additional 700 shares in the last quarter. Enlightenment Research LLC bought a new position in LogMeIn during the 4th quarter valued at approximately $65,000. Cullen Frost Bankers Inc. bought a new position in LogMeIn during the 1st quarter valued at approximately $91,000. Finally, Oppenheimer Asset Management Inc. bought a new position in LogMeIn during the 4th quarter valued at approximately $96,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on LOGM shares. BidaskClub raised LogMeIn from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 13th. KeyCorp reduced their price objective on LogMeIn from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, February 15th. Needham & Company LLC lowered LogMeIn from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Oppenheimer lowered LogMeIn from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a research report on Friday, February 15th. Finally, ValuEngine lowered LogMeIn from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $95.30.

In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $81.22, for a total transaction of $1,827,450.00. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 67,500 shares of company stock worth $5,505,300. Company insiders own 2.40% of the company’s stock.

LOGM traded up $1.21 during trading on Thursday, hitting $79.48. 21,249 shares of the company’s stock traded hands, compared to its average volume of 788,190. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.07. LogMeIn Inc has a 12-month low of $74.87 and a 12-month high of $114.45. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 1.59 and a beta of 1.02.

LogMeIn (NASDAQ:LOGM) last issued its earnings results on Thursday, April 25th. The software maker reported $1.17 EPS for the quarter, beating the consensus estimate of $0.90 by $0.27. LogMeIn had a return on equity of 7.68% and a net margin of 2.89%. The business had revenue of $307.70 million for the quarter, compared to the consensus estimate of $305.57 million. During the same period last year, the business posted $1.21 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that LogMeIn Inc will post 3.86 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.325 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.30 annualized dividend and a yield of 1.64%. LogMeIn’s dividend payout ratio is 28.57%.

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LogMeIn Company 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.

Further Reading: Analyzing a company’s cash flow statement

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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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