Swedbank AB Decreases Position in ePlus inc. $PLUS

Swedbank AB cut its stake in ePlus inc. (NASDAQ:PLUS) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,000 shares of the software maker’s stock after selling 50,000 shares during the quarter. Swedbank AB owned approximately 1.52% of ePlus worth $35,080,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLUS. Envestnet Asset Management Inc. lifted its stake in ePlus by 177.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 237,668 shares of the software maker’s stock valued at $16,877,000 after buying an additional 152,128 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in ePlus by 138.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 204,857 shares of the software maker’s stock worth $14,770,000 after purchasing an additional 118,874 shares in the last quarter. Millennium Management LLC lifted its stake in ePlus by 103.1% in the 1st quarter. Millennium Management LLC now owns 226,399 shares of the software maker’s stock worth $13,817,000 after purchasing an additional 114,900 shares in the last quarter. Jane Street Group LLC lifted its stake in ePlus by 1,986.6% in the 1st quarter. Jane Street Group LLC now owns 103,348 shares of the software maker’s stock worth $6,307,000 after purchasing an additional 98,395 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in ePlus by 8.4% in the 3rd quarter. American Century Companies Inc. now owns 1,006,035 shares of the software maker’s stock worth $71,439,000 after purchasing an additional 78,160 shares in the last quarter. 93.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of ePlus from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Wall Street Zen lowered shares of ePlus from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings lowered shares of ePlus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 13th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, ePlus has an average rating of “Hold”.

ePlus Price Performance

Shares of NASDAQ PLUS opened at $85.37 on Monday. The company has a 50 day simple moving average of $81.14 and a 200-day simple moving average of $84.33. The company has a market capitalization of $2.25 billion, a P/E ratio of 16.97, a P/E/G ratio of 0.93 and a beta of 1.04. ePlus inc. has a 1 year low of $62.11 and a 1 year high of $93.98.

Insider Activity

In other news, COO Darren S. Raiguel sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $89.95, for a total transaction of $89,950.00. Following the completion of the sale, the chief operating officer owned 55,748 shares in the company, valued at $5,014,532.60. This trade represents a 1.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 1,289 shares of company stock worth $115,757. 1.93% of the stock is owned by company insiders.

About ePlus

ePlus Inc (NASDAQ:PLUS) is a technology solutions provider that helps enterprises and public-sector organizations maximize the value of their information technology investments. The company specializes in designing, implementing and managing complex IT infrastructures, with a focus on security, cloud computing, data center modernization and unified communications. By combining consulting services with software license management and hardware procurement, ePlus delivers end-to-end solutions that align with its clients’ strategic objectives.

The company’s offerings include cybersecurity assessments and managed security services, hybrid and public cloud deployments, network architecture and optimization, and collaboration platforms.