Insider Selling: ePlus Inc. (PLUS) CFO Sells 1,500 Shares of Stock
ePlus Inc. (NASDAQ:PLUS) CFO Elaine D. Marion sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $109.18, for a total value of $163,770.00. Following the transaction, the chief financial officer now directly owns 49,852 shares of the company’s stock, valued at $5,442,841.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of ePlus Inc. (NASDAQ:PLUS) traded down 0.09% on Wednesday, hitting $111.15. The stock had a trading volume of 40,699 shares. The firm’s 50-day moving average is $96.03 and its 200-day moving average is $88.86. The company has a market cap of $786.94 million, a price-to-earnings ratio of 16.78 and a beta of 1.08. ePlus Inc. has a one year low of $61.78 and a one year high of $111.65.
Several research analysts have recently weighed in on PLUS shares. Sidoti downgraded ePlus from a “buy” rating to a “neutral” rating and set a $110.00 target price for the company. in a research note on Tuesday, November 15th. Zacks Investment Research raised ePlus from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 target price on shares of ePlus in a research note on Thursday, August 4th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Societe Generale purchased a new position in ePlus during the second quarter worth about $102,000. SG Americas Securities LLC purchased a new position in ePlus during the second quarter worth about $102,000. Victory Capital Management Inc. increased its position 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 in the last quarter. BNP Paribas Arbitrage SA increased its position 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 in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in ePlus during the third quarter worth about $209,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.
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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