Advisors Asset Management Inc. lowered its position in ePlus Inc. (NASDAQ:PLUS) by 36.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,747 shares of the company’s stock after selling 990 shares during the period. Advisors Asset Management Inc.’s holdings in ePlus were worth $143,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. California Public Employees Retirement System boosted its position in shares of ePlus by 0.9% in the second quarter. California Public Employees Retirement System now owns 34,200 shares of the company’s stock worth $2,797,000 after buying an additional 300 shares during the period. SG Americas Securities LLC bought a new position in shares of ePlus during the second quarter worth about $102,000. Emerald Acquisition Ltd. bought a new position in shares of ePlus during the second quarter worth about $2,465,000. Swiss National Bank boosted its position in shares of ePlus by 11.7% in the second quarter. Swiss National Bank now owns 11,414 shares of the company’s stock worth $934,000 after buying an additional 1,200 shares during the period. Finally, Societe Generale bought a new position in shares of ePlus during the second quarter worth about $102,000. Hedge funds and other institutional investors own 84.72% of the company’s stock.
ePlus Inc. (NASDAQ:PLUS) traded down 1.0865% during trading on Friday, hitting $93.7601. The stock had a trading volume of 15,145 shares. The firm has a market capitalization of $665.04 million, a P/E ratio of 14.6936 and a beta of 1.03. The stock has a 50 day moving average of $91.10 and a 200 day moving average of $85.04. ePlus Inc. has a one year low of $61.78 and a one year high of $109.33.
A number of brokerages have issued reports on PLUS. 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 ePlus from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 27th.
In other ePlus news, Director Bruce M. Bowen sold 5,100 shares of the company’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $95.00, for a total value of $484,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Phillip G. Norton sold 51,832 shares of the company’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $90.43, for a total value of $4,687,167.76. Following the completion of the transaction, the insider now directly owns 38,702 shares of the company’s stock, valued at approximately $3,499,821.86. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.
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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