California State Teachers Retirement System decreased its holdings in ePlus Inc. (NASDAQ:PLUS) by 9.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,032 shares of the software maker’s stock after selling 2,278 shares during the quarter. California State Teachers Retirement System owned 0.15% of ePlus worth $1,944,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pinebridge Investments L.P. raised its holdings in shares of ePlus by 102.0% during the second quarter. Pinebridge Investments L.P. now owns 1,735 shares of the software maker’s stock valued at $128,000 after acquiring an additional 876 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of ePlus during the second quarter valued at approximately $207,000. Piedmont Investment Advisors LLC acquired a new position in shares of ePlus during the second quarter valued at approximately $213,000. Aperio Group LLC acquired a new position in shares of ePlus during the third quarter valued at approximately $226,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of ePlus during the second quarter valued at approximately $229,000. 88.93% of the stock is owned by institutional investors.
A number of equities analysts have commented on the company. BidaskClub cut ePlus from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Zacks Investment Research cut ePlus from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 7th. Sidoti raised ePlus from a “neutral” rating to a “buy” rating in a report on Friday. Finally, Stifel Nicolaus reissued a “hold” rating and set a $75.00 target price on shares of ePlus in a report on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. ePlus presently has a consensus rating of “Hold” and a consensus target price of $84.50.
In related news, CFO Elaine D. Marion sold 3,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $80.45, for a total value of $241,350.00. Following the completion of the transaction, the chief financial officer now directly owns 74,568 shares in the company, valued at $5,998,995.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John E. Callies sold 1,200 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $80.35, for a total value of $96,420.00. Following the completion of the transaction, the director now owns 11,154 shares of the company’s stock, valued at $896,223.90. The disclosure for this sale can be found here. 3.25% of the stock is currently owned by company insiders.
ePlus Inc. (NASDAQ PLUS) traded up $2.60 during trading hours on Friday, hitting $72.30. The company had a trading volume of 247,773 shares, compared to its average volume of 96,517. ePlus Inc. has a 12-month low of $60.03 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. The firm has a market capitalization of $1,077.03, a PE ratio of 18.38 and a beta of 1.18.
ePlus (NASDAQ:PLUS) last posted its quarterly earnings results on Wednesday, February 7th. The software maker reported $0.97 EPS for the quarter, beating the consensus estimate of $0.84 by $0.13. ePlus had a return on equity of 15.31% and a net margin of 4.01%. The firm had revenue of $342.57 million during the quarter, compared to analysts’ expectations of $344.25 million. sell-side analysts forecast that ePlus Inc. will post 4 EPS for the current year.
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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