Comerica Bank Boosts Stock Position in ePlus inc. (NASDAQ:PLUS)

Comerica Bank raised its position in shares of ePlus inc. (NASDAQ:PLUSGet Rating) by 0.9% during the 1st quarter, Holdings Channel reports. The firm owned 59,145 shares of the software maker’s stock after buying an additional 525 shares during the quarter. Comerica Bank’s holdings in ePlus were worth $3,427,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Campbell Newman Asset Management Inc. grew its stake in ePlus by 2.0% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 21,554 shares of the software maker’s stock valued at $1,208,000 after purchasing an additional 413 shares during the last quarter. New Century Advisors LLC boosted its stake in shares of ePlus by 161.9% in the first quarter. New Century Advisors LLC now owns 736 shares of the software maker’s stock worth $41,000 after buying an additional 455 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of ePlus by 100.0% in the fourth quarter. AdvisorNet Financial Inc now owns 928 shares of the software maker’s stock worth $50,000 after buying an additional 464 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of ePlus in the fourth quarter worth about $31,000. Finally, Chatham Capital Group Inc. boosted its stake in shares of ePlus by 1.8% in the first quarter. Chatham Capital Group Inc. now owns 40,045 shares of the software maker’s stock worth $2,245,000 after buying an additional 689 shares during the last quarter. Hedge funds and other institutional investors own 92.04% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded ePlus from a “hold” rating to a “buy” rating in a research note on Wednesday, May 18th.

Insider Buying and Selling

In related news, Director Eric D. Hovde sold 9,898 shares of the company’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $55.92, for a total value of $553,496.16. Following the completion of the transaction, the director now owns 51,940 shares of the company’s stock, valued at approximately $2,904,484.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.18% of the stock is currently owned by insiders.

ePlus Stock Up 4.3 %

Shares of PLUS opened at $52.85 on Wednesday. ePlus inc. has a 52 week low of $42.70 and a 52 week high of $69.74. The company has a quick ratio of 1.61, a current ratio of 1.95 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.43 and a beta of 1.21. The stock’s 50-day moving average price is $54.61 and its 200-day moving average price is $52.71.

ePlus (NASDAQ:PLUSGet Rating) last released its quarterly earnings results on Wednesday, May 25th. The software maker reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.28. The company had revenue of $451.52 million during the quarter, compared to analysts’ expectations of $407.60 million. ePlus had a return on equity of 16.92% and a net margin of 5.80%. During the same quarter in the prior year, the firm posted $0.58 EPS. On average, sell-side analysts predict that ePlus inc. will post 3.55 EPS for the current year.

ePlus Company Profile

(Get Rating)

ePlus inc., together with its subsidiaries, provides information technology (IT) solutions that enable organizations to optimize their IT environment and supply chain processes in the United States and internationally. It operates in two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; and professional and managed services, including managed, professional, security solutions, cloud consulting and hosting, 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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