Phillip G. Norton Sells 4,857 Shares of ePlus Inc. (PLUS) Stock
ePlus Inc. (NASDAQ:PLUS) Chairman Phillip G. Norton sold 4,857 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $90.32, for a total transaction of $438,684.24. Following the completion of the sale, the chairman now directly owns 38,702 shares of the company’s stock, valued at $3,495,564.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
ePlus Inc. (NASDAQ:PLUS) traded up 0.11% during midday trading on Wednesday, hitting $90.37. 65,768 shares of the stock traded hands. The firm has a market cap of $640.99 million, a P/E ratio of 14.16 and a beta of 0.98. The company’s 50-day moving average is $89.00 and its 200 day moving average is $83.87. ePlus Inc. has a 12-month low of $61.78 and a 12-month high of $109.33.
A number of large investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in ePlus by 1.5% in the second quarter. Thrivent Financial for Lutherans now owns 2,740 shares of the company’s stock valued at $224,000 after buying an additional 40 shares during the last quarter. Arizona State Retirement System boosted its stake in ePlus by 3.4% in the first quarter. Arizona State Retirement System now owns 3,000 shares of the company’s stock valued at $242,000 after buying an additional 100 shares during the last quarter. Uniplan Investment Counsel Inc. boosted its stake in ePlus by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 58,699 shares of the company’s stock valued at $4,726,000 after buying an additional 195 shares during the last quarter. California Public Employees Retirement System boosted its stake in ePlus by 0.9% in the second quarter. California Public Employees Retirement System now owns 34,200 shares of the company’s stock valued at $2,797,000 after buying an additional 300 shares during the last quarter. Finally, American International Group Inc. boosted its stake in ePlus by 7.0% in the second quarter. American International Group Inc. now owns 4,582 shares of the company’s stock valued at $375,000 after buying an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 84.72% of the company’s stock.
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Several research firms have issued reports on PLUS. Canaccord Genuity reissued a “buy” rating and issued a $100.00 price objective on shares of ePlus in a research report on Thursday, May 26th. Sidoti restated a “buy” rating and issued a $106.00 price target (down previously from $110.00) on shares of ePlus in a report on Thursday, May 26th. Finally, Zacks Investment Research upgraded shares of ePlus from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 27th.
ePlus Company Profile
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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