Fiera Capital Corp Buys Shares of 95,761 ePlus inc. (PLUS)
Fiera Capital Corp bought a new stake in shares of ePlus inc. (NASDAQ:PLUS) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 95,761 shares of the software maker’s stock, valued at approximately $7,096,000. Fiera Capital Corp owned approximately 0.69% of ePlus inc. at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Elkfork Partners LLC increased its holdings in ePlus inc. by 160.0% during the 1st quarter. Elkfork Partners LLC now owns 884 shares of the software maker’s stock valued at $119,000 after acquiring an additional 544 shares in the last quarter. Sei Investments Co. increased its holdings in ePlus inc. by 169.6% during the 2nd quarter. Sei Investments Co. now owns 1,386 shares of the software maker’s stock valued at $103,000 after acquiring an additional 872 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in ePlus inc. during the 2nd quarter valued at about $111,000. Mason Street Advisors LLC increased its holdings in ePlus inc. by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 1,540 shares of the software maker’s stock valued at $208,000 after acquiring an additional 101 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in ePlus inc. by 74.2% during the 2nd quarter. Bank of Montreal Can now owns 1,606 shares of the software maker’s stock valued at $119,000 after acquiring an additional 684 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.
Shares of ePlus inc. (NASDAQ:PLUS) opened at 81.50 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 21.37 and a beta of 1.42. ePlus inc. has a one year low of $63.76 and a one year high of $141.00. The stock’s 50 day moving average is $81.82 and its 200-day moving average is $85.52.
ePlus inc. announced that its board has initiated a stock buyback program on Friday, August 18th that authorizes the company to buyback 500,000 outstanding shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other ePlus inc. news, Director C Thomas Faulders III sold 5,214 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.43, for a total transaction of $445,432.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John E. Callies sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $83.15, for a total value of $83,150.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,614 shares of company stock worth $561,610. Corporate insiders own 3.25% of the company’s stock.
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Several research firms have weighed in on PLUS. Stifel Nicolaus restated a “hold” rating and set a $75.00 target price on shares of ePlus inc. in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of ePlus inc. from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a report on Tuesday, September 5th. ValuEngine downgraded shares of ePlus inc. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of ePlus inc. from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $45.80.
ePlus inc. 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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