Northern Trust Corp Boosts Position in Mimecast Ltd (MIME)
Northern Trust Corp boosted its stake in Mimecast Ltd (NASDAQ:MIME) by 71.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 36,315 shares of the technology company’s stock after purchasing an additional 15,168 shares during the period. Northern Trust Corp owned about 0.06% of Mimecast worth $973,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Columbus Circle Investors increased its holdings in Mimecast by 88.6% in the 2nd quarter. Columbus Circle Investors now owns 728,762 shares of the technology company’s stock valued at $19,516,000 after purchasing an additional 342,405 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in Mimecast in the 2nd quarter valued at approximately $11,326,000. State of Wisconsin Investment Board increased its holdings in Mimecast by 60.8% in the 2nd quarter. State of Wisconsin Investment Board now owns 238,009 shares of the technology company’s stock valued at $6,374,000 after purchasing an additional 90,000 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in Mimecast in the 2nd quarter valued at approximately $5,266,000. Finally, Redwood Investments LLC acquired a new stake in Mimecast in the 2nd quarter valued at approximately $4,172,000. Hedge funds and other institutional investors own 58.69% of the company’s stock.
Several research firms recently weighed in on MIME. Zacks Investment Research downgraded shares of Mimecast from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Jefferies Group reiterated a “buy” rating and issued a $38.00 target price on shares of Mimecast in a report on Friday, November 10th. Barclays boosted their price target on shares of Mimecast from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, November 9th. Oppenheimer restated a “buy” rating and issued a $35.00 price target (up previously from $32.00) on shares of Mimecast in a research note on Thursday, November 9th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 price target (up previously from $33.00) on shares of Mimecast in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $32.83.
Mimecast Ltd (NASDAQ:MIME) opened at $27.31 on Thursday. Mimecast Ltd has a 12 month low of $16.75 and a 12 month high of $32.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 1.42.
Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.
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