Principal Financial Group Inc. Boosts Stake in ePlus inc. (PLUS)

Principal Financial Group Inc. raised its position in ePlus inc. (NASDAQ:PLUS) by 6.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,616 shares of the software maker’s stock after buying an additional 3,322 shares during the period. Principal Financial Group Inc. owned about 0.36% of ePlus inc. worth $6,971,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. FMR LLC boosted its position in shares of ePlus inc. by 189.5% in the fourth quarter. FMR LLC now owns 207,718 shares of the software maker’s stock worth $23,929,000 after buying an additional 135,964 shares during the last quarter. State Street Corp boosted its position in shares of ePlus inc. by 12.5% in the fourth quarter. State Street Corp now owns 140,301 shares of the software maker’s stock worth $16,167,000 after buying an additional 15,536 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of ePlus inc. by 8.8% in the first quarter. Bank of New York Mellon Corp now owns 129,347 shares of the software maker’s stock worth $17,469,000 after buying an additional 10,457 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of ePlus inc. by 16.7% in the first quarter. Nationwide Fund Advisors now owns 88,702 shares of the software maker’s stock worth $11,979,000 after buying an additional 12,699 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of ePlus inc. by 363.3% in the first quarter. JPMorgan Chase & Co. now owns 87,744 shares of the software maker’s stock worth $11,849,000 after buying an additional 68,807 shares during the last quarter. Institutional investors own 47.63% of the company’s stock.

ePlus inc. (NASDAQ PLUS) opened at 77.20 on Thursday. ePlus inc. has a 52-week low of $39.88 and a 52-week high of $81.30. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 21.44 and a beta of 1.40. The stock has a 50 day moving average of $75.53 and a 200-day moving average of $99.44.

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A number of equities analysts have issued reports on PLUS shares. ValuEngine cut shares of ePlus inc. from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Zacks Investment Research cut shares of ePlus inc. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.31.

In other ePlus inc. news, Director Eric D. Hovde sold 3,389 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $80.30, for a total transaction of $272,136.70. Following the completion of the sale, the director now directly owns 68,703 shares of the company’s stock, valued at $5,516,850.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric D. Hovde sold 35,774 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $78.60, for a total transaction of $2,811,836.40. Following the sale, the director now directly owns 74,163 shares of the company’s stock, valued at $5,829,211.80. The disclosure for this sale can be found here. Insiders have sold 70,103 shares of company stock valued at $5,491,451 over the last ninety days. Insiders own 8.20% of the company’s stock.

ePlus inc. Company Profile

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.

Institutional Ownership by Quarter for ePlus inc. (NASDAQ:PLUS)

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