First Midwest Bank Trust Division Takes Position in ePlus inc. (PLUS)

First Midwest Bank Trust Division bought a new stake in ePlus inc. (NASDAQ:PLUS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,742 shares of the software maker’s stock, valued at approximately $531,000.

Several other large investors have also recently bought and sold shares of PLUS. Sei Investments Co. grew its holdings in ePlus inc. by 169.6% during the 2nd quarter. Sei Investments Co. now owns 1,386 shares of the software maker’s stock worth $103,000 after acquiring an additional 872 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in ePlus inc. in the 2nd quarter worth $111,000. Bank of Montreal Can boosted its stake in ePlus inc. by 74.2% in the 2nd quarter. Bank of Montreal Can now owns 1,606 shares of the software maker’s stock worth $119,000 after purchasing an additional 684 shares during the period. Pinebridge Investments L.P. boosted its stake in ePlus inc. by 102.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,735 shares of the software maker’s stock worth $128,000 after purchasing an additional 876 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in ePlus inc. by 254.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,589 shares of the software maker’s stock worth $191,000 after purchasing an additional 1,859 shares during the period. Institutional investors own 86.18% of the company’s stock.

Shares of ePlus inc. (NASDAQ PLUS) opened at 95.60 on Wednesday. ePlus inc. has a 52-week low of $44.65 and a 52-week high of $97.75. The company’s 50 day moving average is $91.16 and its 200 day moving average is $80.58. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 25.07 and a beta of 1.40.

ePlus inc. announced that its board has approved a share buyback plan on Friday, August 18th that permits the company to buyback 500,000 shares. This buyback authorization permits the software maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

A number of brokerages recently weighed in on PLUS. Zacks Investment Research lowered shares of ePlus inc. from a “buy” rating to a “hold” rating in a research note on Saturday, September 2nd. BidaskClub cut shares of ePlus inc. from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $75.00 target price on shares of ePlus inc. in a report on Thursday, August 3rd. Finally, ValuEngine cut shares of ePlus inc. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $45.80.

In other ePlus inc. news, Director Bruce M. Bowen sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $82.57, for a total value of $33,028.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark P. Marron sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $93.40, for a total transaction of $934,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,214 shares of company stock valued at $2,580,002. 3.25% of the stock is owned by corporate insiders.

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ePlus inc. Company Profile

ePlus inc. is a holding company. The Company is engaged in the business of selling, leasing, financing and managing information technology. It operates through two segments: technology and financing. The technology segment sells information technology (IT) hardware products, third-party software and maintenance contracts, its own and third-party professional and managed services, and its software.

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Institutional Ownership by Quarter for ePlus inc. (NASDAQ:PLUS)

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