California State Teachers Retirement System boosted its position in ePlus inc. (NASDAQ:PLUS) by 87.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,310 shares of the software maker’s stock after purchasing an additional 10,855 shares during the period. California State Teachers Retirement System owned about 0.16% of ePlus inc. worth $1,727,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Sei Investments Co. lifted its position in shares of ePlus inc. by 169.6% during the 2nd quarter. Sei Investments Co. now owns 1,386 shares of the software maker’s stock valued at $103,000 after buying an additional 872 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of ePlus inc. during the 2nd quarter valued at about $111,000. Bank of Montreal Can lifted its position in shares of ePlus inc. by 74.2% during the 2nd quarter. Bank of Montreal Can now owns 1,606 shares of the software maker’s stock valued at $119,000 after buying an additional 684 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of ePlus inc. by 102.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,735 shares of the software maker’s stock valued at $128,000 after buying an additional 876 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of ePlus inc. by 254.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,589 shares of the software maker’s stock valued at $191,000 after buying an additional 1,859 shares in the last quarter. 86.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of ePlus inc. (NASDAQ PLUS) opened at $79.45 on Friday. The stock has a market capitalization of $1,090.49, a P/E ratio of 19.66 and a beta of 1.34. ePlus inc. has a 12 month low of $51.23 and a 12 month high of $97.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.50 and a current ratio of 1.65.
ePlus inc. announced that its Board of Directors has initiated a stock repurchase plan on Friday, August 18th that allows the company to buyback 500,000 outstanding shares. This buyback authorization allows the software maker to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
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A number of research analysts have recently weighed in on PLUS shares. Zacks Investment Research cut ePlus inc. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Stifel Nicolaus reaffirmed a “hold” rating and set a $75.00 price objective on shares of ePlus inc. in a research report on Tuesday, September 12th. Finally, ValuEngine cut ePlus inc. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $58.77.
In related news, Director Bruce M. Bowen sold 9,600 shares of ePlus inc. stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $83.77, for a total transaction of $804,192.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce M. Bowen sold 400 shares of ePlus inc. stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $82.57, for a total value of $33,028.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,000 shares of company stock worth $2,051,420 in the last three months. 3.25% of the stock is owned by corporate insiders.
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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