ePlus inc. $PLUS Shares Sold by Swedbank AB

Swedbank AB lowered its position in shares of ePlus inc. (NASDAQ:PLUS) by 11.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 400,000 shares of the software maker’s stock after selling 50,000 shares during the period. Swedbank AB’s holdings in ePlus were worth $35,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PLUS. Envestnet Asset Management Inc. increased its holdings in shares of ePlus by 177.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 237,668 shares of the software maker’s stock worth $16,877,000 after buying an additional 152,128 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in ePlus by 138.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 204,857 shares of the software maker’s stock valued at $14,770,000 after purchasing an additional 118,874 shares during the last quarter. Millennium Management LLC increased its holdings in ePlus by 103.1% in the 1st quarter. Millennium Management LLC now owns 226,399 shares of the software maker’s stock valued at $13,817,000 after purchasing an additional 114,900 shares during the last quarter. Jane Street Group LLC increased its holdings 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 valued at $6,307,000 after purchasing an additional 98,395 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings 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 valued at $71,439,000 after purchasing an additional 78,160 shares during the last quarter. Institutional investors and hedge funds own 93.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PLUS. Zacks Research downgraded shares of ePlus from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Wall Street Zen downgraded shares of ePlus from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings downgraded shares of ePlus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 13th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

ePlus Stock Performance

ePlus stock opened at $85.37 on Monday. ePlus inc. has a fifty-two week low of $62.11 and a fifty-two week high of $93.98. The firm has a 50 day moving average price of $81.14 and a 200 day moving average price of $84.33. The company has a market capitalization of $2.25 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.93 and a beta of 1.04.

Insider Activity at ePlus

In other ePlus news, COO Darren S. Raiguel sold 1,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $89.95, for a total value of $89,950.00. Following the completion of the transaction, the chief operating officer owned 55,748 shares in the company, valued at $5,014,532.60. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 1,289 shares of company stock valued at $115,757 in the last three months. Insiders own 1.93% of the company’s stock.

ePlus Profile

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.