SummerHaven Investment Management LLC Purchases 143 Shares of ePlus inc. (NASDAQ:PLUS)

SummerHaven Investment Management LLC grew its position in shares of ePlus inc. (NASDAQ:PLUS) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,696 shares of the software maker’s stock after buying an additional 143 shares during the quarter. ePlus makes up about 0.6% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 23rd biggest position. SummerHaven Investment Management LLC’s holdings in ePlus were worth $1,014,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D lifted its holdings in ePlus by 6.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 39,710 shares of the software maker’s stock worth $3,170,000 after buying an additional 2,348 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in ePlus by 3.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 6,246 shares of the software maker’s stock worth $499,000 after purchasing an additional 204 shares during the last quarter. Cornerstone Investment Partners LLC bought a new stake in ePlus during the 4th quarter worth about $202,000. Federated Hermes Inc. bought a new stake in ePlus during the 4th quarter worth about $921,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ePlus by 14.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,612 shares of the software maker’s stock worth $448,000 after purchasing an additional 720 shares during the last quarter. 93.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John E. Callies sold 1,308 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $79.17, for a total transaction of $103,554.36. Following the completion of the sale, the director now directly owns 20,493 shares in the company, valued at approximately $1,622,430.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PLUS shares. Stifel Nicolaus upped their price target on ePlus from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, April 15th. Sidoti cut ePlus from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Monday, January 8th.

ePlus Trading Up 0.8 %

Shares of PLUS traded up $0.63 during mid-day trading on Monday, reaching $78.82. 10,099 shares of the company were exchanged, compared to its average volume of 205,759. The stock has a market capitalization of $2.12 billion, a PE ratio of 16.50 and a beta of 1.18. ePlus inc. has a 52 week low of $41.71 and a 52 week high of $83.57. The business has a 50 day simple moving average of $78.41 and a two-hundred day simple moving average of $73.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.59 and a current ratio of 1.93.

ePlus (NASDAQ:PLUS) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.22). ePlus had a return on equity of 15.26% and a net margin of 5.86%. The business had revenue of $509.06 million during the quarter, compared to analysts’ expectations of $598.25 million. On average, analysts predict that ePlus inc. will post 4.59 earnings per share for the current fiscal year.

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.