Grandeur Peak Global Advisors LLC Has $940,000 Holdings in ePlus inc. (PLUS)
Grandeur Peak Global Advisors LLC raised its stake in ePlus inc. (NASDAQ:PLUS) by 47.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,681 shares of the software maker’s stock after purchasing an additional 4,078 shares during the period. Grandeur Peak Global Advisors LLC owned about 0.09% of ePlus inc. worth $940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of PLUS. Bank of New York Mellon Corp raised its position in ePlus inc. by 8.8% in the 1st quarter. Bank of New York Mellon Corp now owns 129,347 shares of the software maker’s stock valued at $17,469,000 after purchasing an additional 10,457 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in ePlus inc. by 8.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,813 shares of the software maker’s stock valued at $245,000 after purchasing an additional 134 shares in the last quarter. Comerica Bank raised its position in ePlus inc. by 3.6% in the 1st quarter. Comerica Bank now owns 7,257 shares of the software maker’s stock valued at $519,000 after purchasing an additional 253 shares in the last quarter. Swiss National Bank raised its position in ePlus inc. by 4.7% in the 1st quarter. Swiss National Bank now owns 11,114 shares of the software maker’s stock valued at $1,501,000 after purchasing an additional 500 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in ePlus inc. by 2.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 20,113 shares of the software maker’s stock valued at $2,716,000 after purchasing an additional 454 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors.
Shares of ePlus inc. (NASDAQ:PLUS) traded down 0.05% during midday trading on Thursday, hitting $96.60. The stock had a trading volume of 43,578 shares. The stock has a 50 day moving average of $86.40 and a 200-day moving average of $80.15. The company has a market cap of $1.37 billion, a P/E ratio of 25.33 and a beta of 1.40. ePlus inc. has a one year low of $44.20 and a one year high of $97.70.
ePlus inc. announced that its Board of Directors has initiated a stock buyback plan on Friday, August 18th that permits the company to buyback 500,000 outstanding shares. This buyback authorization permits the software maker to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
PLUS has been the topic of a number of analyst reports. Zacks Investment Research raised ePlus inc. from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Tuesday, September 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $75.00 price target on shares of ePlus inc. in a research report on Tuesday, September 12th. ValuEngine lowered ePlus inc. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered ePlus inc. from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.80.
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In other ePlus inc. news, Director C Thomas Faulders III sold 5,214 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $85.43, for a total transaction of $445,432.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark P. Marron sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $93.40, for a total value of $934,000.00. The disclosure for this sale can be found here. Insiders sold 29,214 shares of company stock valued at $2,580,002 in the last three months. 3.25% of the stock is currently owned by company insiders.
ePlus inc. Company 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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