ePlus inc. (NASDAQ:PLUS) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its position in shares of ePlus inc. (NASDAQ:PLUS) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,558 shares of the software maker’s stock after selling 238 shares during the quarter. Arizona State Retirement System’s holdings in ePlus were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ePlus by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,094,993 shares of the software maker’s stock valued at $87,025,000 after acquiring an additional 73,632 shares during the last quarter. River Road Asset Management LLC boosted its position in shares of ePlus by 3.9% during the 2nd quarter. River Road Asset Management LLC now owns 1,972,969 shares of the software maker’s stock valued at $111,078,000 after acquiring an additional 73,406 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ePlus by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,512,205 shares of the software maker’s stock valued at $74,157,000 after acquiring an additional 27,067 shares during the last quarter. State Street Corp boosted its position in shares of ePlus by 1.2% during the 1st quarter. State Street Corp now owns 974,605 shares of the software maker’s stock valued at $47,795,000 after acquiring an additional 11,505 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of ePlus by 348.0% during the 4th quarter. Morgan Stanley now owns 799,247 shares of the software maker’s stock valued at $35,391,000 after acquiring an additional 620,838 shares during the last quarter. Institutional investors and hedge funds own 92.94% of the company’s stock.

ePlus Stock Down 1.0 %

Shares of PLUS opened at $64.39 on Tuesday. The firm has a market cap of $1.73 billion, a P/E ratio of 13.11 and a beta of 1.22. ePlus inc. has a 12-month low of $41.71 and a 12-month high of $75.90. The company’s 50-day moving average price is $64.30 and its 200 day moving average price is $57.72. The company has a current ratio of 1.59, a quick ratio of 1.29 and a debt-to-equity ratio of 0.01.

ePlus (NASDAQ:PLUS) last issued its quarterly earnings data on Monday, August 7th. The software maker reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.42. The firm had revenue of $574.18 million for the quarter, compared to analyst estimates of $487.55 million. ePlus had a net margin of 5.99% and a return on equity of 17.18%. On average, sell-side analysts forecast that ePlus inc. will post 4.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLUS. Stifel Nicolaus boosted their price target on shares of ePlus from $55.00 to $65.00 in a research report on Tuesday, August 8th. StockNews.com assumed coverage on shares of ePlus in a report on Thursday, October 5th. They issued a “hold” rating on the stock.

Insiders Place Their Bets

In other ePlus news, Director Bruce M. Bowen sold 8,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $65.90, for a total transaction of $527,200.00. Following the sale, the director now directly owns 9,727 shares in the company, valued at $641,009.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ePlus news, Director Bruce M. Bowen sold 8,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $65.90, for a total transaction of $527,200.00. Following the sale, the director now directly owns 9,727 shares in the company, valued at $641,009.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric D. Hovde sold 6,496 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $66.96, for a total transaction of $434,972.16. Following the sale, the director now owns 3,504 shares in the company, valued at $234,627.84. The disclosure for this sale can be found here. Insiders have sold 27,096 shares of company stock worth $1,791,670 over the last three months. Company insiders own 2.41% of the company’s stock.

About ePlus

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, storage-as-a-service, server and desktop support, and project management services.