ePlus inc. (PLUS) Stake Lifted by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its stake in ePlus inc. (NASDAQ:PLUS) by 55.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,293 shares of the software maker’s stock after acquiring an additional 2,600 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.05% of ePlus worth $674,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in shares of ePlus by 169.6% in the second quarter. Sei Investments Co. now owns 1,386 shares of the software maker’s stock valued at $103,000 after acquiring an additional 872 shares in the last quarter. Bank of Montreal Can boosted its holdings in ePlus by 74.2% during the second quarter. Bank of Montreal Can now owns 1,606 shares of the software maker’s stock worth $119,000 after buying an additional 684 shares in the last quarter. Pinebridge Investments L.P. boosted its holdings in ePlus by 102.0% during the second quarter. Pinebridge Investments L.P. now owns 1,735 shares of the software maker’s stock worth $128,000 after buying an additional 876 shares in the last quarter. Aperio Group LLC bought a new stake in ePlus during the third quarter worth approximately $226,000. Finally, Capital Fund Management S.A. bought a new stake in ePlus during the second quarter worth approximately $207,000. Institutional investors and hedge funds own 89.72% of the company’s stock.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of ePlus from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 7th. Stifel Nicolaus restated a “hold” rating and set a $75.00 target price on shares of ePlus in a report on Tuesday, October 17th. ValuEngine downgraded shares of ePlus from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub downgraded shares of ePlus from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $58.77.
ePlus declared that its board has authorized a share repurchase plan on Friday, August 18th that allows the company to buyback 500,000 outstanding shares. This buyback authorization allows the software maker to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
In other ePlus news, CEO Mark P. Marron sold 10,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $93.40, for a total value of $934,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce M. Bowen sold 9,600 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $83.77, for a total transaction of $804,192.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,800 shares of company stock valued at $2,114,812. 3.25% of the stock is owned by insiders.
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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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