Victory Capital Management Inc. boosted its position in shares of ePlus Inc. (NASDAQ:PLUS) by 33.8% during the second quarter, Holdings Channel reports. The institutional investor owned 1,433 shares of the company’s stock after buying an additional 362 shares during the period. Victory Capital Management Inc.’s holdings in ePlus were worth $117,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Societe Generale bought a new position in ePlus during the second quarter valued at $102,000. SG Americas Securities LLC bought a new position in ePlus during the second quarter valued at $102,000. BNP Paribas Arbitrage SA boosted its position in ePlus by 105.7% in the second quarter. BNP Paribas Arbitrage SA now owns 1,761 shares of the company’s stock valued at $144,000 after buying an additional 905 shares during the period. Osmium Partners LLC bought a new position in ePlus during the first quarter valued at $217,000. Finally, Arizona State Retirement System boosted its position in ePlus by 3.4% in the first quarter. Arizona State Retirement System now owns 3,000 shares of the company’s stock valued at $242,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 84.72% of the company’s stock.
Shares of ePlus Inc. (NASDAQ:PLUS) traded down 0.71% on Thursday, reaching $93.96. 8,133 shares of the company traded hands. ePlus Inc. has a one year low of $61.78 and a one year high of $109.33. The firm has a 50-day moving average price of $90.79 and a 200 day moving average price of $84.97. The company has a market capitalization of $666.46 million, a PE ratio of 14.72 and a beta of 1.03.
Several research analysts recently commented on PLUS shares. Canaccord Genuity restated a “buy” rating and set a $110.00 target price on shares of ePlus in a report on Thursday, August 4th. Zacks Investment Research upgraded shares of ePlus from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 27th.
In related news, Director Terrence Odonnell sold 1,175 shares of ePlus stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $89.65, for a total value of $105,338.75. Following the completion of the sale, the director now owns 6,427 shares of the company’s stock, valued at approximately $576,180.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Phillip G. Norton sold 1,500 shares of ePlus stock in a transaction on Friday, July 8th. The shares were sold at an average price of $82.52, for a total transaction of $123,780.00. Following the completion of the sale, the chief executive officer now directly owns 38,702 shares of the company’s stock, valued at approximately $3,193,689.04. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by corporate insiders.
ePlus inc. is an integrator of technology solutions for information technology (IT) lifecycle management. The Company is engaged in selling, leasing, financing, and managing information technology and other assets. The Company operates in two segments: technology and financing. The Company’s technology segment includes sales of information technology products, third-party software, third-party maintenance, advanced professional and managed services and its software to commercial, state and local governments and government contractors.
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