Royce & Associates LP Decreases Stake in Tangoe Inc. (TNGO)
Royce & Associates LP decreased its stake in Tangoe Inc. (NASDAQ:TNGO) by 9.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,073 shares of the company’s stock after selling 9,889 shares during the period. Royce & Associates LP owned 0.24% of Tangoe worth $734,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in Tangoe by 2.7% in the first quarter. Arizona State Retirement System now owns 19,222 shares of the company’s stock valued at $152,000 after buying an additional 500 shares in the last quarter. Spark Investment Management LLC bought a new stake in Tangoe during the first quarter valued at $197,000. Emerald Acquisition Ltd. bought a new stake in Tangoe during the second quarter valued at $540,000. Prudential Financial Inc. raised its stake in Tangoe by 3.5% in the first quarter. Prudential Financial Inc. now owns 88,392 shares of the company’s stock valued at $697,000 after buying an additional 3,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Tangoe by 5.4% in the first quarter. Geode Capital Management LLC now owns 253,214 shares of the company’s stock valued at $1,997,000 after buying an additional 12,959 shares in the last quarter. 61.49% of the stock is owned by institutional investors and hedge funds.
Tangoe Inc. (NASDAQ:TNGO) traded up 4.00% during mid-day trading on Wednesday, reaching $8.59. The company had a trading volume of 80,859 shares. The stock’s market cap is $338.70 million. The firm’s 50-day moving average price is $9.00 and its 200-day moving average price is $8.23. Tangoe Inc. has a 12 month low of $5.32 and a 12 month high of $10.12.
Several analysts have recently commented on the company. Roth Capital reaffirmed a “buy” rating on shares of Tangoe in a research report on Sunday, July 10th. TheStreet raised Tangoe from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. Finally, Barrington Research cut Tangoe from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $9.38.
In related news, major shareholder Clearlake Capital Partners Iv sold 1,590,000 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $8.00, for a total value of $12,720,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.97% of the stock is currently owned by corporate insiders.
Tangoe Company Profile
Tangoe, Inc (Tangoe) is a global provider of connection lifecycle management (CLM), software and services to a range of enterprises and service providers. CLM covers the entire spectrum of an enterprise’s connection-based assets and services, such as voice and data services, mobile devices and usage, cloud software, infrastructure and services, machine-to-machine connections, enterprise social and information technology connections, and encompasses the entire lifecycle of these assets and services, including planning and sourcing, procurement and provisioning, inventory and usage management, mobile device management (MDM), real-time telecommunications expense management (rTEM), invoice processing and payment, expense allocation and accounting, and asset decommissioning and disposal.
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