Mackenzie Financial Corp Invests $1.44 Million in ePlus Inc. (PLUS)
Mackenzie Financial Corp acquired a new position in ePlus Inc. (NASDAQ:PLUS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,550 shares of the software maker’s stock, valued at approximately $1,438,000. Mackenzie Financial Corp owned 0.11% of ePlus as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in ePlus by 169.6% in the second quarter. Sei Investments Co. now owns 1,386 shares of the software maker’s stock worth $103,000 after purchasing an additional 872 shares during the period. Bank of Montreal Can lifted its holdings in ePlus by 74.2% in the second quarter. Bank of Montreal Can now owns 1,606 shares of the software maker’s stock worth $119,000 after purchasing an additional 684 shares during the period. Pinebridge Investments L.P. lifted its holdings in ePlus by 102.0% in the second quarter. Pinebridge Investments L.P. now owns 1,735 shares of the software maker’s stock worth $128,000 after purchasing an additional 876 shares during the period. Capital Fund Management S.A. acquired a new stake in ePlus in the second quarter worth about $207,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in ePlus in the second quarter worth about $213,000. 89.72% of the stock is owned by institutional investors and hedge funds.
Shares of ePlus Inc. (NASDAQ PLUS) opened at $75.30 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.65 and a quick ratio of 1.50. ePlus Inc. has a 1 year low of $54.28 and a 1 year high of $97.75. The company has a market cap of $1,067.08, a PE ratio of 19.23 and a beta of 1.28.
ePlus announced that its Board of Directors has approved a stock repurchase program on Friday, August 18th that allows the company to repurchase 500,000 outstanding shares. This repurchase authorization allows the software maker to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other ePlus news, Director Bruce M. Bowen sold 9,600 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.77, for a total value of $804,192.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John E. Callies sold 1,200 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $80.35, for a total transaction of $96,420.00. Following the completion of the sale, the director now owns 11,154 shares in the company, valued at $896,223.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,800 shares of company stock worth $2,114,812. 3.25% of the stock is owned by company insiders.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of ePlus from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. BidaskClub downgraded shares of ePlus from a “buy” rating to a “hold” rating in a report on Saturday. ValuEngine downgraded shares of ePlus from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $75.00 price objective on shares of ePlus in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. ePlus currently has a consensus rating of “Hold” and an average target price of $58.77.
ePlus 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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