Nationwide Fund Advisors grew its position in ePlus inc. (NASDAQ:PLUS) by 102.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 179,419 shares of the software maker’s stock after acquiring an additional 90,717 shares during the quarter. Nationwide Fund Advisors owned 1.30% of ePlus inc. worth $13,295,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in PLUS. BlackRock Inc. lifted its position in shares of ePlus inc. by 84,983.9% in the 1st quarter. BlackRock Inc. now owns 792,982 shares of the software maker’s stock worth $107,092,000 after acquiring an additional 792,050 shares during the period. FMR LLC lifted its position in shares of ePlus inc. by 70.2% in the 1st quarter. FMR LLC now owns 353,636 shares of the software maker’s stock worth $47,759,000 after acquiring an additional 145,918 shares during the period. Fiera Capital Corp bought a new stake in shares of ePlus inc. in the 2nd quarter worth approximately $7,096,000. JPMorgan Chase & Co. lifted its position in shares of ePlus inc. by 363.3% in the 1st quarter. JPMorgan Chase & Co. now owns 87,744 shares of the software maker’s stock worth $11,849,000 after acquiring an additional 68,807 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of ePlus inc. by 121.3% in the 1st quarter. Geode Capital Management LLC now owns 116,522 shares of the software maker’s stock worth $7,868,000 after acquiring an additional 63,862 shares during the period. Institutional investors own 86.94% of the company’s stock.
A number of analysts have commented on PLUS shares. Zacks Investment Research downgraded ePlus inc. from a “buy” rating to a “sell” rating in a research report on Tuesday, May 30th. ValuEngine downgraded ePlus inc. from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price objective on shares of ePlus inc. in a research report on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $45.80.
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Shares of ePlus inc. (NASDAQ:PLUS) opened at 88.60 on Friday. The firm has a 50 day moving average price of $82.05 and a 200-day moving average price of $84.28. ePlus inc. has a 12 month low of $44.20 and a 12 month high of $89.65. The company has a market cap of $1.26 billion, a P/E ratio of 23.24 and a beta of 1.42.
ePlus inc. announced that its Board of Directors has initiated a share repurchase program on Friday, August 18th that permits the company to buyback 500,000 shares. This buyback authorization permits the software maker to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Bruce M. Bowen sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $82.57, for a total transaction of $33,028.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Callies sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $83.15, for a total value of $83,150.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,214 shares of company stock valued at $1,365,802. Corporate insiders own 3.25% of the company’s stock.
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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