Prudential Financial Inc. lowered its position in ePlus Inc. (NASDAQ:PLUS) by 17.2% during the second quarter, Holdings Channel reports. The institutional investor owned 58,941 shares of the company’s stock after selling 12,220 shares during the period. Prudential Financial Inc. owned 0.83% of ePlus worth $4,821,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Copper Rock Capital Partners LLC increased its stake in shares of ePlus by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 244,825 shares of the company’s stock valued at $20,024,000 after buying an additional 3,806 shares during the period. Henderson Group PLC increased its stake in shares of 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 shares of 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 shares of 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, Nationwide Fund Advisors increased its stake in shares of ePlus by 2.1% in the second quarter. Nationwide Fund Advisors now owns 74,402 shares of the company’s stock valued at $6,085,000 after buying an additional 1,502 shares during the period. 84.72% of the stock is currently owned by institutional investors.
Shares of ePlus Inc. (NASDAQ:PLUS) opened at 91.87 on Friday. The firm has a market capitalization of $651.63 million, a PE ratio of 14.40 and a beta of 1.03. The company has a 50-day moving average price of $92.00 and a 200 day moving average price of $85.64. ePlus Inc. has a 52-week low of $61.78 and a 52-week high of $109.33.
Several analysts recently issued reports on the company. Zacks Investment Research raised ePlus from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 27th. Canaccord Genuity reissued a “buy” rating and issued a $110.00 price target on shares of ePlus in a report on Thursday, August 4th.
In other news, Director Bruce M. Bowen sold 5,100 shares of ePlus stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $95.00, for a total value of $484,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Phillip G. Norton sold 20,780 shares of ePlus stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $86.66, for a total value of $1,800,794.80. Following the completion of the transaction, the insider now owns 38,702 shares in the company, valued at $3,353,915.32. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.
ePlus 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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