2,129 Shares in ePlus Inc. (PLUS) Acquired by Zions Bancorporation

Zions Bancorporation purchased a new position in shares of ePlus Inc. (NASDAQ:PLUS) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,129 shares of the software maker’s stock, valued at approximately $197,000.

A number of other large investors have also modified their holdings of the business. First Midwest Bank Trust Division raised its holdings in shares of ePlus by 13.2% in the 2nd quarter. First Midwest Bank Trust Division now owns 4,384 shares of the software maker’s stock valued at $413,000 after purchasing an additional 512 shares during the period. Aperio Group LLC raised its holdings in shares of ePlus by 19.5% in the 2nd quarter. Aperio Group LLC now owns 3,501 shares of the software maker’s stock valued at $329,000 after purchasing an additional 571 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of ePlus by 21.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,428 shares of the software maker’s stock valued at $323,000 after purchasing an additional 613 shares during the period. Raymond James & Associates raised its holdings in shares of ePlus by 6.8% in the 2nd quarter. Raymond James & Associates now owns 12,298 shares of the software maker’s stock valued at $1,157,000 after purchasing an additional 786 shares during the period. Finally, Globeflex Capital L P raised its holdings in shares of ePlus by 4.6% in the 2nd quarter. Globeflex Capital L P now owns 18,020 shares of the software maker’s stock valued at $1,696,000 after purchasing an additional 800 shares during the period. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Eric D. Hovde sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $101.75, for a total value of $508,750.00. Following the transaction, the director now owns 29,019 shares in the company, valued at approximately $2,952,683.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Darren S. Raiguel sold 2,824 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $102.82, for a total transaction of $290,363.68. Following the completion of the transaction, the chief operating officer now owns 32,409 shares in the company, valued at approximately $3,332,293.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,794 shares of company stock worth $4,750,250. 2.72% of the stock is owned by company insiders.

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $95.00 target price on shares of ePlus in a report on Monday, July 23rd. BidaskClub raised shares of ePlus from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 12th. Zacks Investment Research cut shares of ePlus from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Finally, ValuEngine cut shares of ePlus from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. ePlus has an average rating of “Hold” and an average price target of $107.00.

Shares of PLUS stock opened at $85.93 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.19 billion, a PE ratio of 20.36 and a beta of 1.22. ePlus Inc. has a 52-week low of $67.65 and a 52-week high of $107.25.

ePlus (NASDAQ:PLUS) last issued its earnings results on Wednesday, August 8th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.11. ePlus had a net margin of 4.07% and a return on equity of 16.05%. The company had revenue of $356.53 million for the quarter, compared to analysts’ expectations of $346.55 million. As a group, equities analysts forecast that ePlus Inc. will post 5.26 earnings per share for the current year.

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ePlus Company Profile

ePlus inc., through its subsidiaries, provides information technology solutions that enable organizations to optimize their information technology (IT) environment and supply chain processes in the United States. It operates in two segments, Technology and Financing. The Technology segment offers hardware, software, maintenance, software assurance, and internally-provided and outsourced services; and advanced professional and managed services, including ePlus managed, professional, security, staff augmentation, server and desktop support, and project management services.

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Institutional Ownership by Quarter for ePlus (NASDAQ:PLUS)

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