Wellington Management Group LLP reduced its stake in ePlus Inc. (NASDAQ:PLUS) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 424,123 shares of the company’s stock after selling 8,642 shares during the period. Wellington Management Group LLP owned about 5.67% of ePlus worth $34,146,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PLUS. Uniplan Investment Counsel Inc. raised its position in shares of ePlus by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 58,699 shares of the company’s stock valued at $4,726,000 after buying an additional 195 shares during the period. Monarch Partners Asset Management LLC raised its stake in ePlus by 5.0% in the fourth quarter. Monarch Partners Asset Management LLC now owns 16,925 shares of the company’s stock valued at $1,578,000 after buying an additional 800 shares during the last quarter. BlackRock Group LTD raised its stake in ePlus by 34.7% in the first quarter. BlackRock Group LTD now owns 5,709 shares of the company’s stock valued at $460,000 after buying an additional 1,472 shares during the last quarter. Zebra Capital Management LLC acquired a new stake in ePlus during the first quarter valued at about $283,000. Finally, UMB Bank N A MO acquired a new stake in ePlus during the first quarter valued at about $322,000.
Shares of ePlus Inc. (NASDAQ:PLUS) traded down 0.49% during trading on Wednesday, hitting $83.57. 19,474 shares of the stock traded hands. ePlus Inc. has a 12 month low of $61.78 and a 12 month high of $109.33. The firm’s 50-day moving average price is $83.95 and its 200-day moving average price is $82.41. The stock has a market cap of $599.78 million and a PE ratio of 13.72.
Several research firms have issued reports on PLUS. Canaccord Genuity restated a “buy” rating and set a $100.00 price target on shares of ePlus in a research report on Thursday, May 26th. Zacks Investment Research upgraded shares of ePlus from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. Finally, Sidoti restated a “buy” rating and set a $106.00 price target (down from $110.00) on shares of ePlus in a research report on Thursday, May 26th.
In other news, CEO Phillip G. Norton sold 1,500 shares of the firm’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $82.52, for a total transaction of $123,780.00. Following the sale, the chief executive officer now directly owns 38,702 shares in the company, valued at approximately $3,193,689.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark P. Marron sold 7,100 shares of the firm’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $85.10, for a total transaction of $604,210.00. Following the sale, the chief operating officer now owns 63,838 shares in the company, valued at $5,432,613.80. The disclosure for this sale can be found here.
ePlus inc. is an integrator of technology solutions for information technology (IT) lifecycle management. The Company is engaged in selling, leasing, financing, and managing information technology and other assets. The Company operates in two segments: technology and financing. The Company’s technology segment includes sales of information technology products, third-party software, third-party maintenance, advanced professional and managed services and its software to commercial, state and local governments and government contractors.
