ePlus Inc. (PLUS) Position Decreased by BlueMountain Capital Management LLC
BlueMountain Capital Management LLC reduced its holdings in shares of ePlus Inc. (NASDAQ:PLUS) by 21.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,282 shares of the software maker’s stock after selling 3,349 shares during the quarter. BlueMountain Capital Management LLC owned 0.09% of ePlus worth $1,156,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PLUS. Citadel Advisors LLC raised its position in ePlus by 7.5% in the second quarter. Citadel Advisors LLC now owns 21,158 shares of the software maker’s stock valued at $1,991,000 after purchasing an additional 1,479 shares during the last quarter. Swiss National Bank raised its position in ePlus by 4.2% in the first quarter. Swiss National Bank now owns 24,628 shares of the software maker’s stock valued at $1,914,000 after purchasing an additional 1,000 shares during the last quarter. BlackRock Inc. raised its position in ePlus by 0.5% in the first quarter. BlackRock Inc. now owns 1,734,514 shares of the software maker’s stock valued at $134,771,000 after purchasing an additional 8,454 shares during the last quarter. Systematic Financial Management LP bought a new position in ePlus in the second quarter valued at about $1,463,000. Finally, Royce & Associates LP raised its position in ePlus by 5.5% in the second quarter. Royce & Associates LP now owns 43,952 shares of the software maker’s stock valued at $4,136,000 after purchasing an additional 2,284 shares during the last quarter. Institutional investors and hedge funds own 91.88% of the company’s stock.
Several equities analysts have commented on the company. BidaskClub upgraded ePlus from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research downgraded ePlus from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. Stifel Nicolaus reiterated a “neutral” rating and issued a $100.00 target price on shares of ePlus in a research report on Friday, August 10th. Finally, ValuEngine downgraded ePlus from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. ePlus presently has a consensus rating of “Hold” and a consensus price target of $107.00.
ePlus (NASDAQ:PLUS) last issued its quarterly earnings results on Wednesday, August 8th. The software maker reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. The company had revenue of $356.53 million during the quarter, compared to analysts’ expectations of $346.55 million. ePlus had a return on equity of 16.05% and a net margin of 4.07%. research analysts predict that ePlus Inc. will post 5.29 earnings per share for the current year.
In other news, Director John E. Callies sold 970 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $101.13, for a total value of $98,096.10. Following the completion of the sale, the director now owns 10,184 shares of the company’s stock, valued at $1,029,907.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Darren S. Raiguel sold 2,824 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $102.82, for a total value of $290,363.68. Following the completion of the sale, the chief operating officer now directly owns 32,409 shares of the company’s stock, valued at approximately $3,332,293.38. The disclosure for this sale can be found here. In the last three months, insiders sold 20,565 shares of company stock valued at $2,075,009. Insiders own 2.72% of the company’s stock.
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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