ePlus Inc. (NASDAQ:PLUS) Chairman Phillip G. Norton sold 13,583 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $91.18, for a total transaction of $1,238,497.94. Following the transaction, the chairman now owns 38,702 shares in the company, valued at approximately $3,528,848.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of ePlus Inc. (NASDAQ:PLUS) opened at 90.42 on Monday. ePlus Inc. has a one year low of $61.78 and a one year high of $109.33. The stock has a market capitalization of $641.35 million, a PE ratio of 14.17 and a beta of 0.98. The firm’s 50-day moving average is $89.39 and its 200-day moving average is $84.02.
A number of research analysts recently weighed in on the stock. Canaccord Genuity restated a “buy” rating and set a $110.00 price objective on shares of ePlus in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of ePlus from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 27th.
A number of hedge funds and other institutional investors have recently bought and sold shares of PLUS. Royal Bank of Canada increased its position in ePlus by 6.3% in the second quarter. Royal Bank of Canada now owns 15,606 shares of the company’s stock worth $1,276,000 after buying an additional 924 shares during the period. Schwab Charles Investment Management Inc. increased its position in ePlus by 21.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 22,029 shares of the company’s stock worth $1,802,000 after buying an additional 3,860 shares during the period. Wedge Capital Management L L P NC increased its position in ePlus by 103.2% in the second quarter. Wedge Capital Management L L P NC now owns 12,600 shares of the company’s stock worth $1,031,000 after buying an additional 6,400 shares during the period. Paloma Partners Management Co acquired a new position in ePlus during the second quarter worth approximately $230,000. Finally, A.R.T. Advisors LLC acquired a new position in ePlus during the second quarter worth approximately $347,000. 84.72% of the stock is currently owned by institutional investors and hedge funds.
ePlus Company Profile
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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