Cipher Capital LP Raises Stake in LogMein, Inc. (LOGM)

Cipher Capital LP lifted its position in shares of LogMein, Inc. (NASDAQ:LOGM) by 332.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,703 shares of the software maker’s stock after purchasing an additional 14,381 shares during the quarter. Cipher Capital LP’s holdings in LogMein were worth $2,058,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Penserra Capital Management LLC increased its position in shares of LogMein by 316.8% during the 2nd quarter. Penserra Capital Management LLC now owns 8,224 shares of the software maker’s stock valued at $104,000 after purchasing an additional 6,251 shares during the last quarter. Creative Planning increased its position in shares of LogMein by 0.3% during the 2nd quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after purchasing an additional 3 shares during the last quarter. Reliance Trust Co. of Delaware purchased a new stake in shares of LogMein during the 3rd quarter valued at $201,000. American Capital Management Inc. purchased a new stake in shares of LogMein during the 2nd quarter valued at $203,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new stake in shares of LogMein during the 2nd quarter valued at $208,000. 95.39% of the stock is currently owned by institutional investors.

In related news, Director Steven J. Benson sold 3,016 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $111.60, for a total transaction of $336,585.60. Following the transaction, the director now directly owns 1,787 shares of the company’s stock, valued at approximately $199,429.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $111.93, for a total value of $2,238,600.00. Following the transaction, the director now directly owns 765,579 shares in the company, valued at $85,691,257.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,152 shares of company stock worth $2,710,858. 2.50% of the stock is currently owned by insiders.

Shares of LogMein, Inc. (NASDAQ LOGM) opened at $118.10 on Wednesday. LogMein, Inc. has a 1-year low of $90.35 and a 1-year high of $129.51. The firm has a market capitalization of $6,127.02, a PE ratio of 43.43, a price-to-earnings-growth ratio of 2.03 and a beta of 1.34.

LogMein (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.05. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The firm had revenue of $269.30 million for the quarter, compared to analysts’ expectations of $270.56 million. During the same quarter last year, the firm posted $0.56 EPS. The company’s revenue was up 216.5% compared to the same quarter last year. analysts predict that LogMein, Inc. will post 3.28 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Wednesday, November 8th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. LogMein’s dividend payout ratio is 909.17%.

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Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised LogMein from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research report on Thursday, August 3rd. Cowen and Company reiterated an “outperform” rating and set a $134.00 price target (up previously from $130.00) on shares of LogMein in a research note on Sunday, July 30th. BidaskClub downgraded LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Robert W. Baird reiterated a “hold” rating and set a $130.00 price target on shares of LogMein in a research note on Friday, September 1st. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $170.00 price target on shares of LogMein in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $135.96.

About LogMein

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.

Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

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