Nationwide Fund Advisors reduced its stake in shares of Tangoe Inc. (NASDAQ:TNGO) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,328 shares of the company’s stock after selling 7,895 shares during the period. Nationwide Fund Advisors owned about 0.56% of Tangoe worth $1,716,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of TNGO. Prudential Financial Inc. raised its position in shares of 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. Ameriprise Financial Inc. raised its position in shares of Tangoe by 3.3% in the second quarter. Ameriprise Financial Inc. now owns 178,550 shares of the company’s stock valued at $1,378,000 after buying an additional 5,640 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Tangoe during the second quarter valued at about $190,000. Spark Investment Management LLC acquired a new position in shares of Tangoe during the first quarter valued at about $197,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Tangoe during the second quarter valued at about $540,000. Institutional investors and hedge funds own 61.03% of the company’s stock.
Shares of Tangoe Inc. (NASDAQ:TNGO) traded up 0.87% during midday trading on Friday, hitting $8.07. The stock had a trading volume of 78,822 shares. Tangoe Inc. has a 52 week low of $5.32 and a 52 week high of $10.12. The company’s 50 day moving average is $8.55 and its 200 day moving average is $8.31. The firm’s market cap is $318.20 million.
Several equities analysts recently issued reports on the company. Roth Capital reiterated a “buy” rating on shares of Tangoe in a research report on Sunday, July 10th. Barrington Research downgraded Tangoe from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 7th. Finally, TheStreet raised Tangoe from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.38.
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.