Rhumbline Advisers grew its stake in ePlus Inc. (NASDAQ:PLUS) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,184 shares of the software maker’s stock after buying an additional 1,519 shares during the period. Rhumbline Advisers owned 0.18% of ePlus worth $2,421,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. TIAA CREF Investment Management LLC boosted its stake in ePlus by 106.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 35,159 shares of the software maker’s stock worth $2,605,000 after purchasing an additional 18,152 shares during the period. Federated Investors Inc. PA boosted its stake in ePlus by 8.3% during the 2nd quarter. Federated Investors Inc. PA now owns 141,511 shares of the software maker’s stock worth $10,486,000 after purchasing an additional 10,785 shares during the period. Menta Capital LLC acquired a new stake in ePlus during the 2nd quarter worth $957,000. Chicago Equity Partners LLC boosted its stake in ePlus by 5.6% during the 3rd quarter. Chicago Equity Partners LLC now owns 106,655 shares of the software maker’s stock worth $9,860,000 after purchasing an additional 5,640 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in ePlus by 32.0% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 13,014 shares of the software maker’s stock worth $963,000 after purchasing an additional 3,157 shares during the period. Institutional investors and hedge funds own 89.72% of the company’s stock.
In other news, Director John E. Callies sold 1,200 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $80.35, for a total value of $96,420.00. Following the completion of the sale, the director now owns 11,154 shares in the company, valued at approximately $896,223.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce M. Bowen sold 9,600 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $83.77, for a total transaction of $804,192.00. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock valued at $2,114,812 in the last 90 days. Company insiders own 3.25% of the company’s stock.
A number of analysts recently weighed in on PLUS shares. Zacks Investment Research cut shares of ePlus from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Stifel Nicolaus reiterated a “hold” rating and set a $75.00 price target on shares of ePlus in a research note on Tuesday, October 17th. ValuEngine cut shares of ePlus from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub cut shares of ePlus from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. ePlus has an average rating of “Hold” and a consensus target price of $58.77.
Shares of ePlus Inc. (PLUS) opened at $75.30 on Monday. ePlus Inc. has a 52 week low of $54.28 and a 52 week high of $97.75. The company has a market cap of $1,067.08, a price-to-earnings ratio of 19.23 and a beta of 1.28. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.01.
ePlus announced that its board has approved a stock buyback program on Friday, August 18th that permits the company to repurchase 500,000 shares. This repurchase authorization permits the software maker to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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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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