Strs Ohio lessened its position in shares of ePlus inc. (NASDAQ:PLUS) by 7.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,600 shares of the software maker’s stock after selling 900 shares during the period. Strs Ohio owned 0.07% of ePlus inc. worth $979,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. lifted its position in shares of ePlus inc. by 169.6% during the 2nd quarter. Sei Investments Co. now owns 1,386 shares of the software maker’s stock valued at $103,000 after buying an additional 872 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of ePlus inc. during the 2nd quarter valued at $111,000. Bank of Montreal Can lifted its position in shares of ePlus inc. by 74.2% during the 2nd quarter. Bank of Montreal Can now owns 1,606 shares of the software maker’s stock valued at $119,000 after buying an additional 684 shares during the last quarter. KCG Holdings Inc. purchased a new position in shares of ePlus inc. during the 1st quarter valued at $228,000. Finally, Pinebridge Investments L.P. lifted its position in shares of ePlus inc. by 102.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,735 shares of the software maker’s stock valued at $128,000 after buying an additional 876 shares during the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ePlus inc. (NASDAQ PLUS) opened at $74.25 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.36 billion, a PE ratio of 24.52 and a beta of 1.34.
ePlus inc. announced that its board has authorized a stock repurchase plan on Friday, August 18th that allows the company to repurchase 500,000 outstanding shares. This repurchase authorization allows the software maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of brokerages recently issued reports on PLUS. BidaskClub cut ePlus inc. from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised ePlus inc. from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Saturday, August 5th. Stifel Nicolaus reissued a “hold” rating and set a $75.00 price objective on shares of ePlus inc. in a report on Tuesday, October 17th. Finally, ValuEngine cut ePlus inc. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. ePlus inc. has an average rating of “Hold” and a consensus target price of $45.80.
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In other ePlus inc. news, Director Bruce M. Bowen sold 400 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was 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 SEC, which is accessible through this hyperlink. Also, CEO Mark P. Marron sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $93.40, for a total value of $934,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,214 shares of company stock worth $2,580,002 in the last three months. 3.25% of the stock is currently owned by insiders.
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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