ePlus Inc. (PLUS) Holdings Cut by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can lessened its stake in ePlus Inc. (NASDAQ:PLUS) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,099 shares of the software maker’s stock after selling 578 shares during the period. Great West Life Assurance Co. Can owned about 0.13% of ePlus worth $1,703,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Fiduciary Management Inc. WI boosted its holdings in ePlus by 54.6% in the first quarter. Fiduciary Management Inc. WI now owns 854,046 shares of the software maker’s stock worth $66,359,000 after purchasing an additional 301,727 shares during the period. BlackRock Inc. boosted its holdings in shares of ePlus by 9.0% during the second quarter. BlackRock Inc. now owns 1,890,422 shares of the software maker’s stock valued at $177,888,000 after acquiring an additional 155,908 shares during the period. Carillon Tower Advisers Inc. acquired a new position in shares of ePlus during the first quarter valued at $6,587,000. New Amsterdam Partners LLC NY acquired a new position in shares of ePlus during the second quarter valued at $6,176,000. Finally, Prudential Financial Inc. boosted its holdings in shares of ePlus by 39.3% during the first quarter. Prudential Financial Inc. now owns 142,360 shares of the software maker’s stock valued at $11,061,000 after acquiring an additional 40,135 shares during the period. Institutional investors and hedge funds own 91.87% of the company’s stock.
Shares of PLUS traded up $0.92 during midday trading on Friday, hitting $85.37. 95,631 shares of the stock traded hands, compared to its average volume of 79,588. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 20.23 and a beta of 1.19. ePlus Inc. has a 1-year low of $67.65 and a 1-year high of $107.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.50 and a current ratio of 1.65.
In related news, CEO Mark P. Marron sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 99,752 shares of the company’s stock, valued at $10,154,753.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark P. Marron sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $100.99, for a total transaction of $2,019,800.00. Following the completion of the sale, the chief executive officer now directly owns 99,752 shares of the company’s stock, valued at approximately $10,073,954.48. The disclosure for this sale can be found here. Insiders sold 46,794 shares of company stock valued at $4,750,250 in the last ninety days. Corporate insiders own 2.72% of the company’s stock.
Several brokerages have recently issued reports on PLUS. Zacks Investment Research downgraded shares of ePlus from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub raised shares of ePlus from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $95.00 price target on shares of ePlus in a report on Monday, July 23rd. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Sell” and an average price target of $107.00.
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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