California State Teachers Retirement System raised its stake in shares of ePlus Inc. (NASDAQ:PLUS) by 10.5% during the second quarter, Holdings Channel reports. The firm owned 13,255 shares of the company’s stock after buying an additional 1,259 shares during the period. California State Teachers Retirement System owned about 0.18% of ePlus worth $1,084,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. Fiduciary Management Inc. WI increased its stake in ePlus by 677.3% in the first quarter. Fiduciary Management Inc. WI now owns 335,775 shares of the company’s stock valued at $27,033,000 after buying an additional 292,575 shares during the period. Henderson Group PLC increased its stake in ePlus by 57.6% in the second quarter. Henderson Group PLC now owns 186,300 shares of the company’s stock valued at $15,237,000 after buying an additional 68,066 shares during the period. Royce & Associates LP increased its stake in ePlus by 20.4% in the first quarter. Royce & Associates LP now owns 161,767 shares of the company’s stock valued at $13,024,000 after buying an additional 27,400 shares during the period. James Investment Research Inc. increased its stake in ePlus by 19.4% in the second quarter. James Investment Research Inc. now owns 127,473 shares of the company’s stock valued at $10,426,000 after buying an additional 20,690 shares during the period. Finally, Chatham Capital Group Inc. acquired a new stake in ePlus during the second quarter valued at approximately $640,000. Hedge funds and other institutional investors own 84.72% of the company’s stock.
Shares of ePlus Inc. (NASDAQ:PLUS) traded down 1.17% during trading on Monday, reaching $89.36. 71,401 shares of the company’s stock were exchanged. The company’s 50-day moving average is $89.39 and its 200 day moving average is $84.02. ePlus Inc. has a 52 week low of $61.78 and a 52 week high of $109.33. The stock has a market capitalization of $633.83 million, a PE ratio of 14.00 and a beta of 0.98.
Several analysts recently commented on PLUS shares. Zacks Investment Research upgraded shares of ePlus from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Canaccord Genuity reiterated a “buy” rating and issued a $110.00 price target on shares of ePlus in a research report on Thursday, August 4th.
In other news, Chairman Phillip G. Norton sold 24,242 shares of ePlus stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $90.27, for a total transaction of $2,188,325.34. Following the sale, the chairman now owns 38,702 shares in the company, valued at $3,493,629.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Terrence Odonnell sold 1,175 shares of ePlus stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $89.65, for a total transaction of $105,338.75. Following the sale, the director now owns 6,427 shares in the company, valued at approximately $576,180.55. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.
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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