ePlus Inc. (PLUS) Director Eric D. Hovde Sells 22,405 Shares of Stock
ePlus Inc. (NASDAQ:PLUS) Director Eric D. Hovde sold 22,405 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $102.73, for a total transaction of $2,301,665.65. Following the completion of the transaction, the director now owns 127,438 shares in the company, valued at approximately $13,091,705.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of ePlus Inc. (NASDAQ:PLUS) opened at 103.10 on Wednesday. The company has a market cap of $729.95 million, a price-to-earnings ratio of 15.56 and a beta of 1.08. ePlus Inc. has a 52 week low of $61.78 and a 52 week high of $105.45. The firm’s 50-day moving average is $94.13 and its 200-day moving average is $87.90.
Several research firms have recently weighed in on PLUS. Sidoti lowered shares of ePlus from a “buy” rating to a “neutral” rating in a research note on Tuesday. Canaccord Genuity reiterated a “buy” rating and issued a $110.00 price objective on shares of ePlus in a research note on Thursday, August 4th. Finally, Zacks Investment Research upgraded shares of ePlus from a “hold” rating to a “strong-buy” rating and set a $112.00 price objective for the company in a research note on Tuesday, November 8th.
A number of hedge funds and other institutional investors have recently modified their holdings of PLUS. Societe Generale acquired a new position in shares of ePlus during the second quarter worth approximately $102,000. SG Americas Securities LLC bought a new stake in ePlus during the second quarter worth $102,000. Victory Capital Management Inc. raised its stake in ePlus by 33.8% in the second quarter. Victory Capital Management Inc. now owns 1,433 shares of the company’s stock worth $117,000 after buying an additional 362 shares during the period. BNP Paribas Arbitrage SA raised its stake in ePlus by 105.7% in the second quarter. BNP Paribas Arbitrage SA now owns 1,761 shares of the company’s stock worth $144,000 after buying an additional 905 shares during the period. Finally, UBS Asset Management Americas Inc. bought a new stake in ePlus during the third quarter worth $209,000. Institutional investors and hedge funds own 81.91% of the company’s stock.
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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