ePlus inc. (NASDAQ:PLUS)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $95.95 and last traded at $95.95, with a volume of 24,182 shares trading hands. The stock had previously closed at $94.85.

Several equities analysts have commented on PLUS shares. BidaskClub downgraded ePlus inc. from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded ePlus inc. from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Saturday, August 5th. ValuEngine upgraded ePlus inc. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 target price on shares of ePlus inc. in a research report on Tuesday, September 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.80.

The company’s 50-day moving average is $85.59 and its 200-day moving average is $80.30. The stock has a market capitalization of $1.36 billion, a PE ratio of 25.19 and a beta of 1.40.

ePlus inc. declared that its board has initiated a share repurchase program on Friday, August 18th that permits the company to repurchase 500,000 shares. This repurchase authorization permits the software maker to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

In related news, Director John E. Callies sold 1,000 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $83.15, for a total transaction of $83,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark P. Marron sold 10,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $93.40, for a total value of $934,000.00. The disclosure for this sale can be found here. Insiders sold a total of 29,214 shares of company stock valued at $2,580,002 over the last quarter. Company insiders own 3.25% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. USA Financial Portformulas Corp purchased a new stake in ePlus inc. during the 2nd quarter valued at about $917,000. WINTON GROUP Ltd boosted its holdings in ePlus inc. by 210.9% during the 2nd quarter. WINTON GROUP Ltd now owns 13,688 shares of the software maker’s stock valued at $1,014,000 after acquiring an additional 9,286 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in ePlus inc. by 208.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,475 shares of the software maker’s stock valued at $1,221,000 after acquiring an additional 11,131 shares during the period. 1st Global Advisors Inc. boosted its holdings in ePlus inc. by 1.2% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,178 shares of the software maker’s stock valued at $384,000 after acquiring an additional 62 shares during the period. Finally, Grandeur Peak Global Advisors LLC boosted its holdings in ePlus inc. by 47.4% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 12,681 shares of the software maker’s stock valued at $940,000 after acquiring an additional 4,078 shares during the period. Institutional investors own 86.94% of the company’s stock.

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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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