Elaine D. Marion Sells 3,000 Shares of ePlus inc. (PLUS) Stock
ePlus inc. (NASDAQ:PLUS) CFO Elaine D. Marion sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $93.40, for a total value of $280,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of ePlus inc. (NASDAQ:PLUS) opened at 94.25 on Friday. ePlus inc. has a 1-year low of $44.20 and a 1-year high of $95.65. The company has a 50 day moving average price of $84.85 and a 200 day moving average price of $81.56. The company has a market capitalization of $1.34 billion, a PE ratio of 24.72 and a beta of 1.40.
ePlus inc. declared that its Board of Directors has approved a stock repurchase plan on Friday, August 18th that permits the company to buyback 500,000 outstanding shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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PLUS has been the topic of several recent analyst reports. ValuEngine raised ePlus inc. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised ePlus inc. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Stifel Nicolaus reissued a “hold” rating and issued a $75.00 target price on shares of ePlus inc. in a research note on Thursday, August 3rd. Finally, BidaskClub cut ePlus inc. from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.80.
Large investors have recently modified their holdings of the stock. Federated Investors Inc. PA grew its stake in ePlus inc. by 8.3% in the 2nd quarter. Federated Investors Inc. PA now owns 141,511 shares of the software maker’s stock worth $10,486,000 after acquiring an additional 10,785 shares in the last quarter. Menta Capital LLC bought a new position in ePlus inc. in the 2nd quarter worth about $957,000. Fiera Capital Corp bought a new position in ePlus inc. in the 2nd quarter worth about $7,096,000. Swiss National Bank grew its stake in ePlus inc. by 4.7% in the 1st quarter. Swiss National Bank now owns 11,114 shares of the software maker’s stock worth $1,501,000 after acquiring an additional 500 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in ePlus inc. by 1.0% in the 1st quarter. Legal & General Group Plc now owns 10,885 shares of the software maker’s stock worth $1,469,000 after acquiring an additional 109 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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