ePlus inc. (PLUS) Position Boosted by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC boosted its position in ePlus inc. (NASDAQ:PLUS) by 106.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,343 shares of the software maker’s stock after buying an additional 1,720 shares during the period. Cubist Systematic Strategies LLC’s holdings in ePlus inc. were worth $248,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in PLUS. BlackRock Inc. lifted its holdings in ePlus inc. by 84,983.9% in the first quarter. BlackRock Inc. now owns 792,982 shares of the software maker’s stock valued at $107,092,000 after buying an additional 792,050 shares during the period. FMR LLC lifted its holdings in ePlus inc. by 171.3% in the second quarter. FMR LLC now owns 959,478 shares of the software maker’s stock valued at $71,097,000 after buying an additional 605,842 shares during the period. Dimensional Fund Advisors LP lifted its holdings in ePlus inc. by 96.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,173,675 shares of the software maker’s stock valued at $86,970,000 after buying an additional 576,536 shares during the period. Fiduciary Management Inc. WI lifted its holdings in ePlus inc. by 102.6% in the second quarter. Fiduciary Management Inc. WI now owns 1,063,046 shares of the software maker’s stock valued at $78,772,000 after buying an additional 538,286 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in ePlus inc. by 101.5% in the second quarter. Vanguard Group Inc. now owns 919,169 shares of the software maker’s stock valued at $68,110,000 after buying an additional 462,907 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.
PLUS has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of ePlus inc. from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Tuesday, September 5th. Stifel Nicolaus restated a “hold” rating and issued a $75.00 target price on shares of ePlus inc. in a report on Thursday, August 3rd. ValuEngine lowered shares of ePlus inc. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub lowered shares of ePlus inc. from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $45.80.
Shares of ePlus inc. (NASDAQ PLUS) opened at 95.60 on Wednesday. The company has a market capitalization of $1.35 billion, a P/E ratio of 25.07 and a beta of 1.40. ePlus inc. has a 1-year low of $44.65 and a 1-year high of $97.75. The firm has a 50-day moving average of $91.16 and a 200 day moving average of $80.58.
ePlus inc. declared that its Board of Directors has initiated a share repurchase plan on Friday, August 18th that allows the company to buyback 500,000 shares. This buyback authorization allows the software maker to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, CFO Elaine D. Marion sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $93.40, for a total value of $280,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Thomas Faulders III sold 5,214 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.43, for a total transaction of $445,432.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,214 shares of company stock valued at $2,580,002. Corporate insiders own 3.25% 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.
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