Congress Asset Management Co. Increases Holdings in Box, Inc. (NYSE:BOX)

Congress Asset Management Co. lifted its position in Box, Inc. (NYSE:BOX - Free Report) by 11.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,846,069 shares of the software maker's stock after purchasing an additional 186,423 shares during the period. Congress Asset Management Co. owned 1.28% of BOX worth $56,970,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of BOX by 332.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker's stock valued at $27,000 after purchasing an additional 665 shares during the period. Versant Capital Management Inc lifted its holdings in BOX by 519.4% during the first quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker's stock worth $60,000 after buying an additional 1,636 shares during the period. Smartleaf Asset Management LLC lifted its holdings in BOX by 715.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock worth $69,000 after buying an additional 1,897 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in BOX by 42.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker's stock worth $69,000 after buying an additional 653 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in BOX by 19.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after buying an additional 417 shares during the period. Hedge funds and other institutional investors own 86.74% of the company's stock.

BOX Trading Down 1.4%

Shares of BOX opened at $37.39 on Friday. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $38.80. The stock has a fifty day moving average price of $31.87 and a 200-day moving average price of $32.33. The firm has a market cap of $5.38 billion, a PE ratio of 46.74, a P/E/G ratio of 4.42 and a beta of 0.94.

BOX (NYSE:BOX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. BOX had a negative return on equity of 17.20% and a net margin of 13.96%. The firm had revenue of $276.27 million during the quarter, compared to analyst estimates of $274.77 million. During the same quarter in the prior year, the business posted $0.39 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts forecast that Box, Inc. will post 0.27 EPS for the current year.

BOX declared that its board has initiated a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the transaction, the chief executive officer now directly owns 2,979,780 shares of the company's stock, valued at $95,591,342.40. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eli Berkovitch sold 5,924 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $37.70, for a total value of $223,334.80. Following the completion of the transaction, the vice president now directly owns 138,770 shares in the company, valued at approximately $5,231,629. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,800 shares of company stock valued at $3,661,762 in the last ninety days. Company insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BOX shares. UBS Group upgraded BOX from a "buy" rating to a "strong-buy" rating and upped their target price for the stock from $37.00 to $40.00 in a report on Wednesday, May 28th. Royal Bank of Canada upped their target price on BOX from $21.00 to $24.00 and gave the stock an "underperform" rating in a report on Wednesday, May 28th. Raymond James restated an "outperform" rating and set a $42.00 target price (up previously from $38.00) on shares of BOX in a report on Wednesday, May 28th. Wall Street Zen upgraded BOX from a "buy" rating to a "strong-buy" rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. upped their target price on BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.50.

BOX Profile

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.

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