BlackRock Inc. Has $177.89 Million Position in ePlus Inc. (PLUS)
BlackRock Inc. increased its holdings in ePlus Inc. (NASDAQ:PLUS) by 9.0% during the second quarter, Holdings Channel reports. The fund owned 1,890,422 shares of the software maker’s stock after acquiring an additional 155,908 shares during the quarter. BlackRock Inc. owned 0.14% of ePlus worth $177,888,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Royce & Associates LP increased its stake in ePlus by 5.5% in the 2nd quarter. Royce & Associates LP now owns 43,952 shares of the software maker’s stock valued at $4,136,000 after buying an additional 2,284 shares during the last quarter. Spark Investment Management LLC purchased a new stake in ePlus in the 2nd quarter valued at about $1,665,000. Schwab Charles Investment Management Inc. increased its stake in ePlus by 5.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 114,794 shares of the software maker’s stock valued at $10,803,000 after buying an additional 5,553 shares during the last quarter. Systematic Financial Management LP purchased a new stake in ePlus in the 2nd quarter valued at about $1,463,000. Finally, SG Americas Securities LLC increased its stake in ePlus by 174.9% in the 2nd quarter. SG Americas Securities LLC now owns 6,065 shares of the software maker’s stock valued at $571,000 after buying an additional 3,859 shares during the last quarter. Hedge funds and other institutional investors own 91.87% of the company’s stock.
NASDAQ:PLUS opened at $92.40 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 22.01 and a beta of 1.15. ePlus Inc. has a 52 week low of $67.65 and a 52 week high of $107.25.
In other news, Director John E. Callies sold 970 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $101.13, for a total transaction of $98,096.10. Following the completion of the sale, the director now owns 10,184 shares in the company, valued at approximately $1,029,907.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark P. Marron sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $100.99, for a total transaction of $2,019,800.00. Following the sale, the chief executive officer now owns 99,752 shares of the company’s stock, valued at approximately $10,073,954.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,794 shares of company stock valued at $4,750,250. Company insiders own 2.72% of the company’s stock.
Several equities research analysts have commented on PLUS shares. BidaskClub lowered shares of ePlus from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. ValuEngine lowered shares of ePlus from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Zacks Investment Research lowered shares of ePlus from a “buy” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Stifel Nicolaus reiterated a “neutral” rating and issued a $100.00 price objective on shares of ePlus in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. ePlus has a consensus rating of “Hold” and an average target price of $107.00.
ePlus inc., through its subsidiaries, provides information technology solutions that enable organizations to optimize their information technology (IT) environment and supply chain processes in the United States. It operates in two segments, Technology and Financing. The Technology segment offers hardware, software, maintenance, software assurance, and internally-provided and outsourced services; and advanced professional and managed services, including ePlus managed, professional, security, staff augmentation, server and desktop support, and project management services.
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