ePlus inc. (NASDAQ:PLUS) Director C Thomas Faulders III sold 5,214 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.43, for a total transaction of $445,432.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of ePlus inc. (PLUS) traded up 1.12% on Friday, reaching $81.60. 173,155 shares of the company were exchanged. The firm has a market capitalization of $1.16 billion, a PE ratio of 21.40 and a beta of 1.41. ePlus inc. has a 12-month low of $63.76 and a 12-month high of $141.00. The company’s 50 day moving average is $79.68 and its 200 day moving average is $90.95.
ePlus inc. declared that its board has approved a share buyback program on Friday, August 18th that authorizes the company to repurchase 500,000 shares. This repurchase authorization authorizes the software maker to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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A number of institutional investors have recently added to or reduced their stakes in the company. Elkfork Partners LLC boosted its position in ePlus inc. by 160.0% in the first quarter. Elkfork Partners LLC now owns 884 shares of the software maker’s stock worth $119,000 after buying an additional 544 shares in the last quarter. Legal & General Group Plc raised its stake in ePlus inc. by 1.0% in the first quarter. Legal & General Group Plc now owns 10,885 shares of the software maker’s stock worth $1,469,000 after buying an additional 109 shares in the last quarter. Swiss National Bank raised its stake in ePlus inc. by 4.7% in the first quarter. Swiss National Bank now owns 11,114 shares of the software maker’s stock worth $1,501,000 after buying an additional 500 shares in the last quarter. Reinhart Partners Inc. raised its stake in ePlus inc. by 47.4% in the second quarter. Reinhart Partners Inc. now owns 25,460 shares of the software maker’s stock worth $1,887,000 after buying an additional 8,190 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in ePlus inc. by 6.9% in the first quarter. Principal Financial Group Inc. now owns 51,616 shares of the software maker’s stock worth $6,971,000 after buying an additional 3,322 shares in the last quarter. 51.93% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have commented on the stock. BidaskClub cut shares of ePlus inc. from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of ePlus inc. from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Saturday. ValuEngine raised shares of ePlus inc. from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $75.00 target price on shares of ePlus inc. in a report on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $44.80.
ePlus inc. Company Profile
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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