ePlus inc. (PLUS) Shares Sold by PDT Partners LLC
PDT Partners LLC trimmed its holdings in ePlus inc. (NASDAQ:PLUS) by 59.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,019 shares of the software maker’s stock after selling 8,936 shares during the period. PDT Partners LLC’s holdings in ePlus inc. were worth $446,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. BlackRock Inc. boosted its stake in ePlus inc. by 96.1% in the 2nd quarter. BlackRock Inc. now owns 1,554,745 shares of the software maker’s stock worth $115,207,000 after buying an additional 761,763 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in ePlus inc. by 96.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,173,675 shares of the software maker’s stock worth $86,970,000 after buying an additional 576,536 shares during the last quarter. Fiduciary Management Inc. WI boosted its stake in ePlus inc. by 102.6% in the 2nd quarter. Fiduciary Management Inc. WI now owns 1,063,046 shares of the software maker’s stock worth $78,772,000 after buying an additional 538,286 shares during the last quarter. FMR LLC boosted its stake in ePlus inc. by 171.3% in the 2nd quarter. FMR LLC now owns 959,478 shares of the software maker’s stock worth $71,097,000 after buying an additional 605,842 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in ePlus inc. by 101.5% in the 2nd quarter. Vanguard Group Inc. now owns 919,169 shares of the software maker’s stock worth $68,110,000 after buying an additional 462,907 shares during the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ePlus inc. (NASDAQ PLUS) opened at 93.40 on Friday. ePlus inc. has a 52 week low of $63.76 and a 52 week high of $141.00. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 24.50 and a beta of 1.40. The firm has a 50-day moving average price of $85.21 and a 200-day moving average price of $81.29.
ePlus inc. declared that its Board of Directors has approved a share repurchase plan on Friday, August 18th that permits the company to repurchase 500,000 outstanding shares. This repurchase authorization permits the software maker to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, CEO Mark P. Marron sold 10,000 shares of ePlus inc. stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $93.40, for a total transaction of $934,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director C Thomas Faulders III sold 5,214 shares of ePlus inc. stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $85.43, for a total value of $445,432.02. The disclosure for this sale can be found here. Insiders have sold 29,214 shares of company stock worth $2,580,002 in the last quarter. 3.25% of the stock is currently owned by corporate insiders.
A number of analysts have issued reports on PLUS shares. Zacks Investment Research raised ePlus inc. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Stifel Nicolaus reissued a “hold” rating and issued a $75.00 price target on shares of ePlus inc. in a research note on Tuesday, September 12th. ValuEngine lowered ePlus inc. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub lowered ePlus inc. from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.80.
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ePlus inc. 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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