American International Group Inc. Cuts Stock Holdings in ePlus inc. (NASDAQ:PLUS)

American International Group Inc. lowered its holdings in ePlus inc. (NASDAQ:PLUS) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,296 shares of the software maker’s stock after selling 205 shares during the quarter. American International Group Inc. owned approximately 0.05% of ePlus worth $805,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PLUS. Allspring Global Investments Holdings LLC raised its stake in ePlus by 2.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 120,086 shares of the software maker’s stock worth $6,761,000 after buying an additional 2,737 shares in the last quarter. Zions Bancorporation N.A. lifted its stake in shares of ePlus by 15.5% during the 1st quarter. Zions Bancorporation N.A. now owns 25,661 shares of the software maker’s stock worth $1,258,000 after purchasing an additional 3,439 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in ePlus by 2.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,669 shares of the software maker’s stock valued at $572,000 after purchasing an additional 329 shares in the last quarter. Bank of New York Mellon Corp grew its stake in ePlus by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 266,297 shares of the software maker’s stock valued at $14,993,000 after purchasing an additional 5,415 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in ePlus in the first quarter worth about $375,000. Hedge funds and other institutional investors own 92.94% of the company’s stock.

ePlus Stock Down 0.6 %

Shares of PLUS stock opened at $62.73 on Thursday. The stock’s fifty day moving average price is $63.59 and its 200 day moving average price is $58.42. ePlus inc. has a 1-year low of $41.71 and a 1-year high of $75.90. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 12.40 and a beta of 1.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.81 and a quick ratio of 1.50.

Insiders Place Their Bets

In other news, Director Eric D. Hovde sold 7,600 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $66.73, for a total transaction of $507,148.00. Following the transaction, the director now owns 36,103 shares in the company, valued at $2,409,153.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other ePlus news, Director Eric D. Hovde sold 6,496 shares of ePlus 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 completion of the sale, the director now owns 3,504 shares of the company’s stock, valued at approximately $234,627.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eric D. Hovde sold 7,600 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $66.73, for a total value of $507,148.00. Following the sale, the director now owns 36,103 shares in the company, valued at approximately $2,409,153.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,096 shares of company stock valued at $1,264,470. 2.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLUS. Stifel Nicolaus raised their price target on shares of ePlus from $55.00 to $65.00 in a report on Tuesday, August 8th. StockNews.com started coverage on shares of ePlus in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

ePlus Company Profile

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.