LogMeIn (NASDAQ:LOGM) Trading 7.8% Higher

LogMeIn Inc (NASDAQ:LOGM)’s stock price traded up 7.8% on Wednesday . The stock traded as high as $81.60 and last traded at $79.83, 1,401,718 shares traded hands during mid-day trading. An increase of 125% from the average session volume of 623,757 shares. The stock had previously closed at $74.04.

Several equities analysts recently weighed in on the stock. Piper Jaffray Companies assumed coverage on shares of LogMeIn in a research note on Tuesday. They issued a “buy” rating and a $86.00 target price for the company. ValuEngine raised shares of LogMeIn from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Stephens assumed coverage on shares of LogMeIn in a research note on Monday, November 18th. They issued a “hold” rating and a $77.00 target price for the company. Barclays decreased their target price on shares of LogMeIn from $75.00 to $70.00 and set an “underweight” rating for the company in a research note on Friday, October 25th. Finally, KeyCorp decreased their target price on shares of LogMeIn from $98.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $88.00.

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.47 and a quick ratio of 0.47. The stock’s 50-day simple moving average is $73.56 and its 200 day simple moving average is $71.78. The stock has a market capitalization of $3.98 billion, a P/E ratio of 18.13, a PEG ratio of 3.90 and a beta of 1.12.

LogMeIn (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.03. LogMeIn had a net margin of 1.20% and a return on equity of 7.37%. The firm had revenue of $317.20 million during the quarter, compared to analysts’ expectations of $316.29 million. During the same period in the previous year, the business posted $1.40 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts expect that LogMeIn Inc will post 4.09 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.325 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.30 dividend on an annualized basis and a yield of 1.58%. LogMeIn’s dividend payout ratio (DPR) is 28.57%.

In other LogMeIn news, SVP Michael J. Donahue sold 11,642 shares of LogMeIn stock in a transaction on Friday, November 15th. The shares were sold at an average price of $80.00, for a total transaction of $931,360.00. Following the completion of the transaction, the senior vice president now directly owns 5,000 shares of the company’s stock, valued at $400,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Edward K. Herdiech sold 4,036 shares of LogMeIn stock in a transaction on Friday, November 15th. The stock was sold at an average price of $80.00, for a total transaction of $322,880.00. Following the transaction, the chief financial officer now directly owns 20,572 shares of the company’s stock, valued at $1,645,760. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of LogMeIn by 2.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 81,742 shares of the software maker’s stock worth $6,547,000 after buying an additional 2,277 shares in the last quarter. Strs Ohio acquired a new stake in shares of LogMeIn during the second quarter worth $304,000. SG Americas Securities LLC lifted its holdings in shares of LogMeIn by 163.9% during the second quarter. SG Americas Securities LLC now owns 15,435 shares of the software maker’s stock worth $1,137,000 after buying an additional 9,587 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of LogMeIn by 39.7% during the second quarter. Janus Henderson Group PLC now owns 7,819 shares of the software maker’s stock worth $576,000 after buying an additional 2,221 shares in the last quarter. Finally, Keybank National Association OH lifted its holdings in shares of LogMeIn by 6.1% during the second quarter. Keybank National Association OH now owns 14,556 shares of the software maker’s stock worth $1,072,000 after buying an additional 839 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

LogMeIn Company Profile (NASDAQ:LOGM)

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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