ePlus inc. (NASDAQ:PLUS) Director Bruce M. Bowen sold 9,600 shares of the company’s stock in a transaction dated 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 can be accessed through the SEC website.
ePlus inc. (NASDAQ:PLUS) traded up 0.81% during mid-day trading on Wednesday, hitting $87.15. 54,745 shares of the stock traded hands. ePlus inc. has a one year low of $44.20 and a one year high of $89.65. The company has a 50 day moving average price of $82.05 and a 200-day moving average price of $84.28. The stock has a market capitalization of $1.23 billion, a PE ratio of 22.86 and a beta of 1.42.
ePlus inc. declared that its Board of Directors has approved a stock repurchase plan on Friday, August 18th that permits the company to repurchase 500,000 shares. This repurchase authorization permits the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
PLUS has been the topic of several research analyst reports. ValuEngine cut shares of ePlus inc. from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Zacks Investment Research cut shares of ePlus inc. from a “buy” rating to a “sell” rating in a research note on Tuesday, May 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $75.00 price objective on shares of ePlus inc. in a research note on Thursday, August 3rd. Finally, BidaskClub cut shares of ePlus inc. from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. ePlus inc. currently has an average rating of “Buy” and a consensus target price of $45.80.
Large investors have recently modified their holdings of the company. Sei Investments Co. raised its position in shares of ePlus inc. by 169.6% in 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. acquired a new position in shares of ePlus inc. in the 2nd quarter valued at approximately $111,000. Elkfork Partners LLC raised its position in shares of ePlus inc. by 160.0% in the 1st quarter. Elkfork Partners LLC now owns 884 shares of the software maker’s stock valued at $119,000 after buying an additional 544 shares in the last quarter. Bank of Montreal Can raised its position in shares of ePlus inc. by 74.2% in 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. Finally, Pinebridge Investments L.P. raised its position in shares of ePlus inc. by 102.0% in 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. Institutional investors own 86.94% of the company’s stock.
About ePlus inc.
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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