Scout Investments Inc. lessened its stake in ePlus inc. (NASDAQ:PLUS) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,825 shares of the software maker’s stock after selling 9,950 shares during the quarter. Scout Investments Inc. owned approximately 556,280.88% of ePlus inc. worth $7,287,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLUS. BlackRock Inc. boosted its holdings in shares of ePlus inc. by 84,983.9% in the 1st quarter. BlackRock Inc. now owns 792,982 shares of the software maker’s stock valued at $107,092,000 after buying an additional 792,050 shares during the last quarter. FMR LLC boosted its holdings in shares of ePlus inc. by 171.3% in the 2nd quarter. FMR LLC now owns 959,478 shares of the software maker’s stock valued at $71,097,000 after buying an additional 605,842 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ePlus inc. by 96.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,173,675 shares of the software maker’s stock valued at $86,970,000 after buying an additional 576,536 shares during the last quarter. Fiduciary Management Inc. WI boosted its holdings in shares of ePlus inc. by 102.6% in the 2nd quarter. Fiduciary Management Inc. WI now owns 1,063,046 shares of the software maker’s stock valued at $78,772,000 after buying an additional 538,286 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of ePlus inc. by 101.5% in the 2nd quarter. Vanguard Group Inc. now owns 919,169 shares of the software maker’s stock valued at $68,110,000 after buying an additional 462,907 shares during the last quarter. 86.14% of the stock is owned by institutional investors.
PLUS has been the subject of several recent analyst reports. Zacks Investment Research downgraded ePlus inc. from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Stifel Nicolaus reissued a “hold” rating and issued a $75.00 price objective on shares of ePlus inc. in a report on Tuesday, September 12th. Finally, ValuEngine downgraded ePlus inc. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. ePlus inc. presently has a consensus rating of “Hold” and an average price target of $45.80.
In other ePlus inc. news, Director Bruce M. Bowen sold 9,600 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $83.77, for a total transaction of $804,192.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce M. Bowen sold 400 shares of the firm’s 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 disclosure for this sale can be found here. Insiders have sold a total of 23,000 shares of company stock valued at $2,051,420 in the last ninety days. Insiders own 3.25% of the company’s stock.
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Shares of ePlus inc. (NASDAQ PLUS) opened at $76.20 on Friday. ePlus inc. has a twelve month low of $49.90 and a twelve month high of $97.75. The stock has a market capitalization of $1,079.83, a price-to-earnings ratio of 19.46 and a beta of 1.34. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.01.
ePlus inc. announced that its board has authorized a share buyback program on Friday, August 18th that permits the company to buyback 500,000 shares. This buyback authorization permits the software maker to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
ePlus inc. 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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