ePlus Inc. (PLUS) Chairman Sells $2,188,325.34 in Stock
ePlus Inc. (NASDAQ:PLUS) Chairman Phillip G. Norton sold 24,242 shares of ePlus stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $90.27, for a total value of $2,188,325.34. Following the transaction, the chairman now owns 38,702 shares of the company’s stock, valued at approximately $3,493,629.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of ePlus Inc. (NASDAQ:PLUS) traded up 0.11% during trading on Wednesday, hitting $90.37. The company had a trading volume of 65,768 shares. The firm has a market capitalization of $640.99 million, a P/E ratio of 14.16 and a beta of 0.98. ePlus Inc. has a 52-week low of $61.78 and a 52-week high of $109.33. The stock’s 50-day moving average is $89.00 and its 200 day moving average is $83.87.
A number of equities analysts have weighed in on the company. Canaccord Genuity reiterated a “buy” rating and set a $110.00 price objective on shares of ePlus in a research note on Thursday, August 4th. Zacks Investment Research upgraded ePlus from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, Sidoti restated a “buy” rating and issued a $106.00 price target (down previously from $110.00) on shares of ePlus in a research note on Thursday, May 26th.
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Several institutional investors have recently made changes to their positions in PLUS. Vanguard Group Inc. raised its position in shares of ePlus by 4.9% in the second quarter. Vanguard Group Inc. now owns 399,288 shares of the company’s stock worth $32,659,000 after buying an additional 18,577 shares during the period. BlackRock Fund Advisors raised its position in shares of ePlus by 6.0% in the second quarter. BlackRock Fund Advisors now owns 390,459 shares of the company’s stock worth $31,936,000 after buying an additional 22,260 shares during the period. Fiduciary Management Inc. WI raised its position 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 worth $27,033,000 after buying an additional 292,575 shares during the period. Copper Rock Capital Partners LLC raised its position in shares of ePlus by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 244,825 shares of the company’s stock worth $20,024,000 after buying an additional 3,806 shares during the period. Finally, Henderson Group PLC raised its position in shares of ePlus by 57.6% in the second quarter. Henderson Group PLC now owns 186,300 shares of the company’s stock worth $15,237,000 after buying an additional 68,066 shares during the period. Institutional investors own 84.72% of the company’s stock.
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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