Shares of Tangoe Inc. (NASDAQ:TNGO) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $8.00.
TNGO has been the topic of a number of research analyst reports. TheStreet raised Tangoe from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th. Barrington Research cut Tangoe from an “outperform” rating to a “market perform” rating in a report on Thursday, July 7th. Finally, Roth Capital reissued a “buy” rating on shares of Tangoe in a report on Sunday, July 10th.
Shares of Tangoe (NASDAQ:TNGO) opened at 8.29 on Tuesday. The company has a 50-day moving average price of $8.97 and a 200-day moving average price of $8.27. Tangoe has a 52 week low of $5.32 and a 52 week high of $10.12. The stock’s market cap is $326.87 million.
Several institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new position in Tangoe during the second quarter valued at $131,000. Thrivent Financial for Lutherans increased its position in Tangoe by 2.7% in the second quarter. Thrivent Financial for Lutherans now owns 18,180 shares of the company’s stock valued at $140,000 after buying an additional 470 shares in the last quarter. Arizona State Retirement System increased its position in Tangoe by 1.0% in the second quarter. Arizona State Retirement System now owns 19,422 shares of the company’s stock valued at $150,000 after buying an additional 200 shares in the last quarter. Alliancebernstein L.P. increased its position in Tangoe by 11.0% in the second quarter. Alliancebernstein L.P. now owns 21,210 shares of the company’s stock valued at $164,000 after buying an additional 2,100 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in Tangoe during the second quarter valued at $190,000. 61.03% of the stock is currently owned by hedge funds and other institutional investors.
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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