ePlus inc. (PLUS) CFO Elaine D. Marion Sells 3,000 Shares
ePlus inc. (NASDAQ:PLUS) CFO Elaine D. Marion sold 3,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $93.40, for a total transaction of $280,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
ePlus inc. (NASDAQ PLUS) traded down 0.26% during trading on Wednesday, hitting $95.20. 64,846 shares of the company’s stock traded hands. The stock has a market cap of $1.35 billion, a P/E ratio of 24.97 and a beta of 1.40. The firm’s 50-day moving average price is $84.07 and its 200 day moving average price is $81.37. ePlus inc. has a 12-month low of $44.20 and a 12-month high of $95.80.
ePlus inc. declared that its Board of Directors has approved a share buyback 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 management believes its stock is undervalued.
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Several hedge funds have recently modified their holdings of the company. 1st Global Advisors Inc. raised its stake in shares of ePlus inc. by 1.2% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,178 shares of the software maker’s stock valued at $384,000 after acquiring an additional 62 shares during the period. Mason Street Advisors LLC raised its stake in shares of ePlus inc. by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 1,540 shares of the software maker’s stock valued at $208,000 after acquiring an additional 101 shares during the period. Legal & General Group Plc raised its stake in shares of ePlus inc. by 1.0% in the 1st quarter. Legal & General Group Plc now owns 10,885 shares of the software maker’s stock valued at $1,469,000 after acquiring an additional 109 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of ePlus inc. by 8.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,813 shares of the software maker’s stock valued at $245,000 after acquiring an additional 134 shares during the period. Finally, Thrivent Financial For Lutherans raised its stake in shares of ePlus inc. by 4.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 3,700 shares of the software maker’s stock valued at $500,000 after acquiring an additional 150 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on PLUS. Zacks Investment Research downgraded shares of ePlus inc. from a “buy” rating to a “hold” rating in a research note on Saturday, September 2nd. BidaskClub downgraded shares of ePlus inc. from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Stifel Nicolaus restated a “hold” rating and issued a $75.00 price target on shares of ePlus inc. in a research note on Thursday, August 3rd. Finally, ValuEngine upgraded shares of ePlus inc. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.80.
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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