ePlus inc. (PLUS) Director Sells $33,028.00 in Stock
ePlus inc. (NASDAQ:PLUS) Director Bruce M. Bowen sold 400 shares of ePlus inc. stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $82.57, for a total value of $33,028.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of ePlus inc. (NASDAQ:PLUS) traded down 2.25% on Friday, reaching $78.05. The company had a trading volume of 109,876 shares. The firm has a market capitalization of $1.11 billion, a P/E ratio of 20.47 and a beta of 1.42. ePlus inc. has a 52 week low of $44.20 and a 52 week high of $89.65. The company’s 50-day moving average price is $81.91 and its 200 day moving average price is $87.25.
ePlus inc. announced that its board has authorized a share repurchase program on Friday, August 18th that authorizes the company to buyback 500,000 shares. This buyback authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
A number of institutional investors have recently bought and sold shares of PLUS. BlackRock Inc. lifted its position in ePlus inc. by 84,983.9% during the 1st quarter. BlackRock Inc. now owns 792,982 shares of the software maker’s stock worth $107,092,000 after acquiring an additional 792,050 shares during the period. FMR LLC lifted its position in ePlus inc. by 171.3% during the 2nd quarter. FMR LLC now owns 959,478 shares of the software maker’s stock worth $71,097,000 after acquiring an additional 605,842 shares during the period. Dimensional Fund Advisors LP lifted its position in ePlus inc. by 96.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,173,675 shares of the software maker’s stock worth $86,970,000 after acquiring an additional 576,536 shares during the period. Fiduciary Management Inc. WI lifted its position in ePlus inc. by 102.6% during the 2nd quarter. Fiduciary Management Inc. WI now owns 1,063,046 shares of the software maker’s stock worth $78,772,000 after acquiring an additional 538,286 shares during the period. Finally, Vanguard Group Inc. lifted its position in ePlus inc. by 101.5% during the 2nd quarter. Vanguard Group Inc. now owns 919,169 shares of the software maker’s stock worth $68,110,000 after acquiring an additional 462,907 shares during the period. 86.94% of the stock is owned by institutional investors.
Several brokerages recently weighed in on PLUS. Zacks Investment Research cut ePlus inc. from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. BidaskClub cut ePlus inc. from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. ValuEngine cut ePlus inc. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $75.00 price target on shares of ePlus inc. in a research report on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. ePlus inc. has a consensus rating of “Buy” and a consensus price target of $45.80.
About ePlus inc.
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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