ePlus inc. (PLUS) CEO Sells $934,000.00 in Stock
ePlus inc. (NASDAQ:PLUS) CEO Mark P. Marron sold 10,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $93.40, for a total transaction of $934,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of ePlus inc. (NASDAQ PLUS) traded down 0.26% during trading on Wednesday, reaching $95.20. 64,846 shares of the company were exchanged. ePlus inc. has a 52-week low of $44.20 and a 52-week high of $95.80. The stock’s 50-day moving average is $84.07 and its 200-day moving average is $81.37. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 24.97 and a beta of 1.40.
ePlus inc. announced that its board has authorized a stock repurchase plan on Friday, August 18th that authorizes the company to repurchase 500,000 shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
COPYRIGHT VIOLATION NOTICE: “ePlus inc. (PLUS) CEO Sells $934,000.00 in Stock” was published by Marea Informative and is the property of of Marea Informative. If you are reading this story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this story can be viewed at http://www.mareainformativa.com/eplus-inc-plus-ceo-sells-934000-00-in-stock/116097/.
A number of institutional investors and hedge funds have recently bought and sold shares of PLUS. Sei Investments Co. increased its stake in ePlus inc. by 169.6% in the second quarter. Sei Investments Co. now owns 1,386 shares of the software maker’s stock valued at $103,000 after purchasing an additional 872 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in ePlus inc. in the second quarter valued at $111,000. Bank of Montreal Can increased its stake in ePlus inc. by 74.2% in the second quarter. Bank of Montreal Can now owns 1,606 shares of the software maker’s stock valued at $119,000 after purchasing an additional 684 shares in the last quarter. Pinebridge Investments L.P. increased its stake in ePlus inc. by 102.0% in the second quarter. Pinebridge Investments L.P. now owns 1,735 shares of the software maker’s stock valued at $128,000 after purchasing an additional 876 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in ePlus inc. by 254.7% in the second quarter. State of Alaska Department of Revenue now owns 2,589 shares of the software maker’s stock valued at $191,000 after purchasing an additional 1,859 shares in the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.
PLUS has been the subject of a number of recent analyst reports. 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 upgraded shares of ePlus inc. from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Saturday, August 5th. ValuEngine upgraded shares of ePlus inc. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $75.00 price objective on shares of ePlus inc. in a research report on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average 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.
Receive News & Stock Ratings for ePlus inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ePlus inc. and related stocks with our FREE daily email newsletter.