Pembroke Management LTD Increases Stake in Crexendo Inc. $CXDO

Pembroke Management LTD lifted its stake in shares of Crexendo Inc. (NASDAQ:CXDO) by 209.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 195,371 shares of the company’s stock after buying an additional 132,201 shares during the quarter. Pembroke Management LTD’s holdings in Crexendo were worth $1,270,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey purchased a new position in Crexendo in the second quarter worth approximately $29,000. Huntington National Bank acquired a new stake in shares of Crexendo in the 2nd quarter valued at $30,000. Bank of America Corp DE lifted its position in shares of Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after purchasing an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Crexendo during the 2nd quarter worth $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Crexendo during the second quarter worth $48,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

Crexendo Stock Down 1.6%

Shares of NASDAQ CXDO opened at $7.26 on Friday. The business has a 50-day moving average price of $6.74 and a 200 day moving average price of $6.41. The stock has a market cap of $223.10 million, a PE ratio of 48.40 and a beta of 0.92. Crexendo Inc. has a 52-week low of $3.75 and a 52-week high of $7.65.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $17.50 million during the quarter, compared to analysts’ expectations of $17.02 million. Crexendo had a return on equity of 13.09% and a net margin of 6.58%. Sell-side analysts anticipate that Crexendo Inc. will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CXDO has been the topic of a number of analyst reports. B. Riley restated a “buy” rating and issued a $8.00 price target (up from $7.50) on shares of Crexendo in a research note on Wednesday, November 5th. Northland Securities set a $10.00 target price on Crexendo in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a report on Friday, January 9th. Needham & Company LLC increased their price target on shares of Crexendo from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Crexendo from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Crexendo presently has a consensus rating of “Moderate Buy” and an average target price of $9.08.

Insider Activity at Crexendo

In related news, CFO Ron Vincent sold 10,000 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $7.38, for a total transaction of $73,800.00. Following the completion of the sale, the chief financial officer owned 165,809 shares in the company, valued at $1,223,670.42. This represents a 5.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Douglas Walter Gaylor sold 6,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $7.51, for a total transaction of $45,060.00. Following the transaction, the chief operating officer directly owned 233,135 shares in the company, valued at $1,750,843.85. The trade was a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,000 shares of company stock worth $470,210 in the last 90 days. 47.20% of the stock is owned by insiders.

Crexendo Company Profile

Crexendo, Inc (NASDAQ: CXDO) is a provider of cloud-based communications and collaboration solutions tailored to businesses of varying sizes. The company’s flagship offering, CXsuite, integrates enterprise-grade voice, video conferencing, instant messaging, presence, and contact center functionality into a single platform delivered over the internet. By leveraging hosted infrastructure and a subscription-based model, Crexendo aims to reduce on-premises hardware costs and simplify management for IT teams and resellers.

Crexendo’s product portfolio includes a multi-tenant cloud PBX, SIP trunking, session border controllers and an application programming interface (API) suite that allows partners and customers to embed real-time communications into custom workflows.