BNP Paribas Arbitrage SA Boosts Position in ePlus inc. (PLUS)
BNP Paribas Arbitrage SA boosted its stake in ePlus inc. (NASDAQ:PLUS) by 158.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,693 shares of the software maker’s stock after purchasing an additional 2,880 shares during the period. BNP Paribas Arbitrage SA’s holdings in ePlus inc. were worth $348,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of PLUS. Sei Investments Co. increased its holdings in 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 purchasing an additional 872 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in ePlus inc. in the 2nd quarter valued at approximately $111,000. Elkfork Partners LLC increased its holdings in 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 purchasing an additional 544 shares during the last quarter. Bank of Montreal Can increased its holdings in 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 purchasing an additional 684 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in ePlus inc. by 254.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,589 shares of the software maker’s stock valued at $191,000 after purchasing an additional 1,859 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of ePlus inc. from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Saturday, August 5th. BidaskClub cut shares of ePlus inc. from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. ValuEngine cut shares of ePlus inc. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $75.00 price target on shares of ePlus inc. in a research report on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. ePlus inc. presently has a consensus rating of “Buy” and a consensus target price of $45.80.
ePlus inc. (NASDAQ PLUS) opened at 83.90 on Tuesday. The stock has a market cap of $1.19 billion, a PE ratio of 22.00 and a beta of 1.42. The firm has a 50-day moving average of $81.89 and a 200 day moving average of $84.58. ePlus inc. has a 12 month low of $44.20 and a 12 month high of $89.65.
ePlus inc. announced that its board has initiated a stock repurchase program on Friday, August 18th that allows the company to repurchase 500,000 shares. This repurchase authorization allows the software maker to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Bruce M. Bowen sold 400 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $82.57, for a total value of $33,028.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Thomas Faulders III sold 5,214 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $85.43, for a total transaction of $445,432.02. The disclosure for this sale can be found here. Insiders sold 6,614 shares of company stock valued at $561,610 in the last three months. Company insiders own 3.25% of the company’s stock.
ePlus inc. 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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