ePlus Inc. (PLUS) Chairman Phillip G. Norton Sells 13,583 Shares
ePlus Inc. (NASDAQ:PLUS) Chairman Phillip G. Norton sold 13,583 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $91.18, for a total value of $1,238,497.94. Following the transaction, the chairman now owns 38,702 shares in the company, valued at $3,528,848.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of ePlus Inc. (NASDAQ:PLUS) traded up 0.11% on Wednesday, hitting $90.37. The stock had a trading volume of 65,768 shares. The stock has a 50 day moving average of $89.00 and a 200 day moving average of $83.87. ePlus Inc. has a 12-month low of $61.78 and a 12-month high of $109.33. The firm has a market cap of $640.99 million, a price-to-earnings ratio of 14.16 and a beta of 0.98.
Several large investors have recently made changes to their positions in the company. UMB Bank N A MO acquired a new stake in shares of ePlus during the first quarter valued at $322,000. Landscape Capital Management L.L.C. increased its stake in shares of ePlus by 212.8% in the first quarter. Landscape Capital Management L.L.C. now owns 9,364 shares of the company’s stock valued at $754,000 after buying an additional 6,370 shares during the period. Royce & Associates LP increased its stake in shares of ePlus by 20.4% in the first quarter. Royce & Associates LP now owns 161,767 shares of the company’s stock valued at $13,024,000 after buying an additional 27,400 shares during the period. Fiduciary Management Inc. WI increased its stake in shares of ePlus by 677.3% in the first quarter. Fiduciary Management Inc. WI now owns 335,775 shares of the company’s stock valued at $27,033,000 after buying an additional 292,575 shares during the period. Finally, Zebra Capital Management LLC acquired a new stake in shares of ePlus during the first quarter valued at $283,000. Institutional investors and hedge funds own 84.72% of the company’s stock.
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Several research analysts have commented on the company. Zacks Investment Research downgraded ePlus from a “hold” rating to a “sell” rating in a report on Friday, May 27th. Sidoti restated a “buy” rating and set a $106.00 price objective (down from $110.00) on shares of ePlus in a report on Thursday, May 26th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $100.00 price target on shares of ePlus in a report on Thursday, May 26th.
ePlus inc. is an integrator of technology solutions for information technology (IT) lifecycle management. The Company is engaged in selling, leasing, financing, and managing information technology and other assets. The Company operates in two segments: technology and financing. The Company’s technology segment includes sales of information technology products, third-party software, third-party maintenance, advanced professional and managed services and its software to commercial, state and local governments and government contractors.
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