Panagora Asset Management Inc. lessened its holdings in ePlus Inc. (NASDAQ:PLUS) by 40.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,382 shares of the software maker’s stock after selling 31,253 shares during the quarter. Panagora Asset Management Inc. owned 0.33% of ePlus worth $4,207,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in PLUS. Citadel Advisors LLC lifted its position in ePlus by 7.5% during the second quarter. Citadel Advisors LLC now owns 21,158 shares of the software maker’s stock worth $1,991,000 after purchasing an additional 1,479 shares during the period. Schwab Charles Investment Management Inc. lifted its position in ePlus by 5.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 114,794 shares of the software maker’s stock worth $10,803,000 after purchasing an additional 5,553 shares during the period. Cubist Systematic Strategies LLC lifted its position in ePlus by 21.8% during the second quarter. Cubist Systematic Strategies LLC now owns 3,428 shares of the software maker’s stock worth $323,000 after purchasing an additional 613 shares during the period. Systematic Financial Management LP bought a new stake in ePlus during the second quarter worth about $1,463,000. Finally, Zions Bancorporation bought a new stake in ePlus during the third quarter worth about $197,000. 91.73% of the stock is owned by institutional investors.
In other news, CEO Mark P. Marron sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $100.99, for a total value of $2,019,800.00. Following the completion of the transaction, the chief executive officer now owns 99,752 shares of the company’s stock, valued at $10,073,954.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark P. Marron sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $101.80, for a total value of $1,018,000.00. Following the completion of the transaction, the chief executive officer now directly owns 99,752 shares of the company’s stock, valued at approximately $10,154,753.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,500 shares of company stock valued at $3,089,015. Insiders own 2.72% of the company’s stock.
Shares of NASDAQ PLUS opened at $74.72 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.70 and a quick ratio of 1.53. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 16.51 and a beta of 1.23. ePlus Inc. has a 12 month low of $67.65 and a 12 month high of $107.25.
ePlus (NASDAQ:PLUS) last issued its earnings results on Wednesday, November 7th. The software maker reported $1.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.07). The business had revenue of $345.04 million for the quarter, compared to analyst estimates of $378.95 million. ePlus had a return on equity of 16.58% and a net margin of 4.20%. On average, sell-side analysts predict that ePlus Inc. will post 4.57 earnings per share for the current year.
Several equities research analysts recently weighed in on PLUS shares. Zacks Investment Research raised shares of ePlus from a “sell” rating to a “hold” rating in a research report on Wednesday, November 14th. ValuEngine cut shares of ePlus from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Berenberg Bank initiated coverage on ePlus in a research note on Friday, November 16th. They set a “buy” rating and a $96.00 target price for the company. Sidoti initiated coverage on ePlus in a research note on Monday, November 19th. They set a “neutral” rating and a $86.00 target price for the company. Finally, BidaskClub downgraded ePlus from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $99.00.
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ePlus Company Profile
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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