Teachers Retirement System of The State of Kentucky cut its holdings in shares of ePlus Inc. (NASDAQ:PLUS) by 4.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,760 shares of the software maker’s stock after selling 1,019 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.15% of ePlus worth $1,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in ePlus during the second quarter valued at $123,000. Meeder Asset Management Inc. raised its position in shares of ePlus by 431.8% in the third quarter. Meeder Asset Management Inc. now owns 1,622 shares of the software maker’s stock worth $151,000 after acquiring an additional 1,317 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of ePlus in the second quarter worth about $161,000. Bessemer Group Inc. acquired a new position in shares of ePlus in the third quarter worth about $185,000. Finally, Zions Bancorporation acquired a new position in shares of ePlus in the third quarter worth about $197,000. Institutional investors own 89.25% of the company’s stock.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of ePlus from a “sell” rating to a “hold” rating in a research report on Wednesday, November 14th. BidaskClub downgraded shares of ePlus from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 19th. Sidoti assumed coverage on shares of ePlus in a research report on Monday, November 19th. They issued a “neutral” rating and a $86.00 price objective for the company. Berenberg Bank assumed coverage on shares of ePlus in a research report on Friday, November 16th. They issued a “buy” rating and a $96.00 price objective for the company. Finally, Stifel Nicolaus reiterated a “neutral” rating and issued a $100.00 price objective on shares of ePlus in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $99.00.
Shares of ePlus stock opened at $77.79 on Monday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 18.43 and a beta of 1.22. ePlus Inc. has a fifty-two week low of $67.65 and a fifty-two week high of $107.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.70 and a quick ratio of 1.53.
ePlus (NASDAQ:PLUS) last released its earnings results on Wednesday, November 7th. The software maker reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.07). The company had revenue of $345.04 million for the quarter, compared to analysts’ expectations 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.
In other news, CEO Mark P. Marron sold 10,000 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $101.80, for a total transaction 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 can be accessed through the SEC website. Also, CEO Mark P. Marron sold 20,000 shares of the business’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 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 have sold 34,294 shares of company stock valued at $3,477,475 in the last three months. Corporate 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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