State of Tennessee Treasury Department cut its stake in ePlus (NASDAQ:PLUS) by 9.5% during the 1st quarter, Holdings Channel reports. The fund owned 10,155 shares of the software maker’s stock after selling 1,067 shares during the period. State of Tennessee Treasury Department’s holdings in ePlus were worth $789,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in ePlus by 0.5% in the first quarter. BlackRock Inc. now owns 1,734,514 shares of the software maker’s stock valued at $134,771,000 after acquiring an additional 8,454 shares during the last quarter. Fiduciary Management Inc. WI boosted its holdings in ePlus by 54.6% in the first quarter. Fiduciary Management Inc. WI now owns 854,046 shares of the software maker’s stock valued at $66,359,000 after acquiring an additional 301,727 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its holdings in shares of ePlus by 117.3% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 247,459 shares of the software maker’s stock worth $18,609,000 after buying an additional 133,575 shares in the last quarter. River Road Asset Management LLC boosted its holdings in shares of ePlus by 41.7% during the 1st quarter. River Road Asset Management LLC now owns 198,782 shares of the software maker’s stock worth $15,445,000 after buying an additional 58,528 shares in the last quarter. Finally, Matarin Capital Management LLC bought a new position in shares of ePlus during the 1st quarter worth approximately $11,198,000. Institutional investors and hedge funds own 92.39% of the company’s stock.
ePlus stock opened at $95.70 on Friday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 22.68 and a beta of 1.17. ePlus has a 52-week low of $67.65 and a 52-week high of $99.80. The company has a current ratio of 1.61, a quick ratio of 1.50 and a debt-to-equity ratio of 0.03.
ePlus (NASDAQ:PLUS) last posted its quarterly earnings results on Thursday, May 24th. The software maker reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $330.43 million for the quarter, compared to the consensus estimate of $352.50 million. ePlus had a return on equity of 15.10% and a net margin of 3.91%. sell-side analysts forecast that ePlus will post 5.19 EPS for the current year.
In other news, Director Eric D. Hovde sold 27,995 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $94.23, for a total transaction of $2,637,968.85. Following the transaction, the director now directly owns 23,301 shares of the company’s stock, valued at $2,195,653.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elaine D. Marion sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $80.00, for a total value of $240,000.00. Following the transaction, the chief financial officer now directly owns 70,068 shares in the company, valued at $5,605,440. The disclosure for this sale can be found here. Insiders have sold 52,873 shares of company stock worth $4,917,588 over the last ninety days. 3.25% of the stock is owned by insiders.
A number of equities analysts have issued reports on PLUS shares. BidaskClub upgraded ePlus from a “hold” rating to a “buy” rating in a report on Friday, March 30th. ValuEngine cut ePlus from a “hold” rating to a “sell” rating in a report on Monday, April 23rd. Stifel Nicolaus increased their price target on ePlus from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, May 25th. Sidoti cut ePlus from a “buy” rating to a “neutral” rating in a report on Tuesday, May 8th. Finally, Zacks Investment Research cut ePlus from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 11th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. ePlus presently has a consensus rating of “Hold” and an average target price of $83.00.
ePlus inc., an engineering-centric technology solutions provider, provides information technology (IT) products and services, flexible leasing and financing solutions, and enterprise supply management in the United States. It operates through two segments, Technology and Financing. The Technology segment sells IT products, such as hardware, software, maintenance, software assurance, and services; and offers advanced professional and managed services, including data center infrastructure, networking, security, cloud, and collaboration, as well as ePlus managed, professional, security, staff augmentation, server and desktop support, and project management services.
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