ePlus inc. (PLUS) Shares Sold by USA Financial Portformulas Corp

USA Financial Portformulas Corp lowered its holdings in shares of ePlus inc. (NASDAQ:PLUS) by 58.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,166 shares of the software maker’s stock after selling 7,210 shares during the quarter. USA Financial Portformulas Corp’s holdings in ePlus inc. were worth $478,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sei Investments Co. grew its position in shares of ePlus inc. by 169.6% during the second quarter. Sei Investments Co. now owns 1,386 shares of the software maker’s stock worth $103,000 after purchasing an additional 872 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of ePlus inc. during the second quarter worth about $111,000. Bank of Montreal Can grew its position in shares of ePlus inc. by 74.2% during the second quarter. Bank of Montreal Can now owns 1,606 shares of the software maker’s stock worth $119,000 after purchasing an additional 684 shares in the last quarter. KCG Holdings Inc. purchased a new stake in shares of ePlus inc. during the first quarter worth about $228,000. Finally, Pinebridge Investments L.P. grew its position in shares of ePlus inc. by 102.0% during the second quarter. Pinebridge Investments L.P. now owns 1,735 shares of the software maker’s stock worth $128,000 after purchasing an additional 876 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

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Several research firms recently issued reports on PLUS. Zacks Investment Research cut ePlus inc. from a “buy” rating to a “hold” rating in a research report on Saturday, September 2nd. BidaskClub lowered ePlus inc. from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “hold” rating and set a $75.00 price target on shares of ePlus inc. in a research note on Thursday, August 3rd. Finally, ValuEngine lowered ePlus inc. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. ePlus inc. presently has an average rating of “Hold” and an average price target of $45.80.

ePlus inc. (NASDAQ:PLUS) opened at $76.45 on Friday. ePlus inc. has a one year low of $47.50 and a one year high of $97.75. The company has a market capitalization of $1,072.78, a P/E ratio of 19.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.50 and a current ratio of 1.65.

ePlus inc. announced that its board has initiated a stock repurchase plan on Friday, August 18th that authorizes the company to repurchase 500,000 shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, CEO Mark P. Marron sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $93.40, for a total value of $934,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce M. Bowen sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $82.57, for a total value of $33,028.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,000 shares of company stock valued at $2,051,420. 3.25% of the stock is owned by corporate insiders.

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.

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

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