ePlus inc. (PLUS) Shares Sold by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC reduced its stake in ePlus inc. (NASDAQ:PLUS) by 6.3% during the first quarter, Holdings Channel reports. The institutional investor owned 17,007 shares of the software maker’s stock after selling 1,151 shares during the period. TIAA CREF Investment Management LLC’s holdings in ePlus inc. were worth $2,297,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its position in ePlus inc. by 70.2% in the first quarter. FMR LLC now owns 353,636 shares of the software maker’s stock valued at $47,759,000 after buying an additional 145,918 shares in the last quarter. JPMorgan Chase & Co. boosted its position in ePlus inc. by 363.3% in the first quarter. JPMorgan Chase & Co. now owns 87,744 shares of the software maker’s stock valued at $11,849,000 after buying an additional 68,807 shares in the last quarter. Value Holdings Management CO. LLC boosted its position in ePlus inc. by 562.5% in the first quarter. Value Holdings Management CO. LLC now owns 26,500 shares of the software maker’s stock valued at $699,000 after buying an additional 22,500 shares in the last quarter. Oxford Asset Management acquired a new position in ePlus inc. during the first quarter valued at $2,381,000. Finally, State Street Corp boosted its position in ePlus inc. by 12.5% in the fourth quarter. State Street Corp now owns 140,301 shares of the software maker’s stock valued at $16,167,000 after buying an additional 15,536 shares in the last quarter. 48.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of ePlus inc. (NASDAQ PLUS) opened at 89.00 on Friday. The firm has a 50 day moving average price of $76.58 and a 200 day moving average price of $93.23. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 23.34 and a beta of 1.41. ePlus inc. has a 52 week low of $41.00 and a 52 week high of $89.00.
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PLUS has been the topic of several research analyst reports. Zacks Investment Research raised ePlus inc. from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Saturday, April 22nd. ValuEngine cut ePlus inc. from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of ePlus inc. in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. ePlus inc. presently has an average rating of “Hold” and a consensus price target of $24.31.
In other news, Director Eric D. Hovde sold 3,389 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $80.30, for a total value of $272,136.70. Following the transaction, the director now directly owns 68,703 shares in the company, valued at approximately $5,516,850.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Phillip G. Norton sold 20,880 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $79.04, for a total value of $1,650,355.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,103 shares of company stock worth $5,136,851. Company insiders own 3.25% 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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