Chicago Equity Partners LLC reduced its holdings in shares of ePlus Inc. (NASDAQ:PLUS) by 65.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,845 shares of the software maker’s stock after selling 59,670 shares during the quarter. Chicago Equity Partners LLC owned 0.23% of ePlus worth $2,952,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in ePlus during the second quarter worth approximately $123,000. Itau Unibanco Holding S.A. purchased a new stake in ePlus during the second quarter worth approximately $161,000. Amalgamated Bank purchased a new stake in ePlus during the second quarter worth approximately $209,000. MAI Capital Management purchased a new stake in ePlus during the second quarter worth approximately $210,000. Finally, Van Hulzen Asset Management LLC purchased a new stake in ePlus during the second quarter worth approximately $217,000. Institutional investors own 91.82% of the company’s stock.
Several research analysts have recently weighed in on PLUS shares. Stifel Nicolaus restated a “hold” rating and issued a $95.00 target price on shares of ePlus in a research note on Monday, July 23rd. BidaskClub upgraded shares of ePlus from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 24th. Zacks Investment Research upgraded shares of ePlus from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research note on Wednesday, July 25th. Finally, ValuEngine downgraded shares of ePlus from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. ePlus currently has a consensus rating of “Hold” and a consensus price target of $107.00.
Shares of PLUS stock opened at $81.58 on Friday. The firm has a market capitalization of $1.18 billion, a PE ratio of 19.33 and a beta of 1.22. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.03. ePlus Inc. has a twelve month low of $67.65 and a twelve month high of $107.25.
ePlus (NASDAQ:PLUS) last announced its earnings results on Wednesday, November 7th. The software maker reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.07). The firm had revenue of $345.04 million during the quarter, compared to analysts’ expectations of $378.95 million. ePlus had a net margin of 4.07% and a return on equity of 16.05%. On average, research analysts predict that ePlus Inc. will post 5.26 EPS for the current year.
In related news, CEO Mark P. Marron sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $100.99, for a total value of $2,019,800.00. Following the sale, the chief executive officer now directly owns 99,752 shares of the company’s stock, valued at $10,073,954.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence S. Herman sold 500 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $102.43, for a total transaction of $51,215.00. Following the completion of the sale, the director now directly owns 11,552 shares in the company, valued at $1,183,271.36. The disclosure for this sale can be found here. Insiders sold 46,794 shares of company stock valued at $4,750,250 over the last 90 days. Insiders own 2.72% of the company’s stock.
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ePlus inc., through its subsidiaries, provides information technology solutions that enable organizations to optimize their information technology (IT) environment and supply chain processes in the United States. It operates in two segments, Technology and Financing. The Technology segment offers hardware, software, maintenance, software assurance, and internally-provided and outsourced services; and advanced professional and managed services, including ePlus managed, professional, security, staff augmentation, server and desktop support, and project management services.
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