Cornerstone Capital Management Holdings LLC. Invests $1.33 Million in ePlus inc. (PLUS)
Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of ePlus inc. (NASDAQ:PLUS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,857 shares of the software maker’s stock, valued at approximately $1,330,000. Cornerstone Capital Management Holdings LLC. owned approximately 0.07% of ePlus inc. as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elkfork Partners LLC increased its position in shares of ePlus inc. by 160.0% in the first quarter. Elkfork Partners LLC now owns 884 shares of the software maker’s stock valued at $119,000 after buying an additional 544 shares in the last quarter. Palo Capital Inc. bought a new stake in ePlus inc. during the first quarter worth $203,000. Mason Street Advisors LLC boosted its stake in ePlus inc. by 7.0% in the first quarter. Mason Street Advisors LLC now owns 1,540 shares of the software maker’s stock worth $208,000 after buying an additional 101 shares during the last quarter. Victory Capital Management Inc. boosted its stake in ePlus inc. by 15.2% in the first quarter. Victory Capital Management Inc. now owns 1,649 shares of the software maker’s stock worth $223,000 after buying an additional 218 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in ePlus inc. by 8.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,813 shares of the software maker’s stock worth $245,000 after buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 47.85% of the company’s stock.
Shares of ePlus inc. (NASDAQ:PLUS) opened at 74.50 on Friday. The company has a market cap of $1.05 billion, a PE ratio of 20.69 and a beta of 1.37. ePlus inc. has a 52 week low of $63.76 and a 52 week high of $141.00. The company has a 50 day moving average of $75.06 and a 200 day moving average of $102.02.
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A number of research firms have weighed in on PLUS. ValuEngine raised shares of ePlus inc. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research cut shares of ePlus inc. from a “buy” rating to a “sell” rating in a research note on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. ePlus inc. currently has an average rating of “Hold” and a consensus target price of $24.31.
In related news, Director Eric D. Hovde sold 3,389 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $80.30, for a total transaction of $272,136.70. Following the transaction, the director now owns 68,703 shares of the company’s stock, valued at approximately $5,516,850.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Elaine D. Marion sold 5,000 shares of the stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $70.92, for a total transaction of $354,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,103 shares of company stock worth $5,491,451. 8.20% of the stock is owned by insiders.
About ePlus inc.
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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