Sterling Capital Management LLC grew its stake in shares of ePlus Inc. (NASDAQ:PLUS) by 31.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 37,875 shares of the software maker’s stock after acquiring an additional 9,079 shares during the quarter. Sterling Capital Management LLC owned about 0.28% of ePlus worth $2,611,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Fiduciary Management Inc. WI lifted its position in shares of ePlus by 9.3% during the 2nd quarter. Fiduciary Management Inc. WI now owns 873,721 shares of the software maker’s stock worth $60,234,000 after buying an additional 74,020 shares during the last quarter. Cortina Asset Management LLC lifted its position in shares of ePlus by 30.0% during the 2nd quarter. Cortina Asset Management LLC now owns 241,442 shares of the software maker’s stock worth $16,645,000 after buying an additional 55,689 shares during the last quarter. Zions Bancorporation N.A. bought a new stake in shares of ePlus during the 1st quarter worth $191,000. AJO LP bought a new stake in shares of ePlus during the 1st quarter worth $1,139,000. Finally, Scout Investments Inc. lifted its position in shares of ePlus by 63.3% during the 2nd quarter. Scout Investments Inc. now owns 84,956 shares of the software maker’s stock worth $5,857,000 after buying an additional 32,947 shares during the last quarter. Hedge funds and other institutional investors own 90.08% of the company’s stock.
PLUS has been the subject of several recent analyst reports. BidaskClub downgraded ePlus from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 13th. Berenberg Bank restated a “hold” rating and set a $83.00 price objective on shares of ePlus in a research report on Tuesday, August 13th. ValuEngine upgraded ePlus from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 8th. Sidoti upgraded ePlus from a “neutral” rating to a “buy” rating in a research report on Monday, July 1st. Finally, Zacks Investment Research downgraded ePlus from a “hold” rating to a “sell” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. ePlus currently has a consensus rating of “Hold” and a consensus target price of $85.67.
ePlus (NASDAQ:PLUS) last posted its earnings results on Wednesday, August 7th. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. The firm had revenue of $381.37 million during the quarter, compared to the consensus estimate of $355.15 million. ePlus had a return on equity of 16.10% and a net margin of 4.59%. Research analysts anticipate that ePlus Inc. will post 4.18 EPS for the current fiscal year.
In other ePlus news, Director Lawrence S. Herman sold 600 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $75.60, for a total value of $45,360.00. Following the completion of the transaction, the director now directly owns 9,549 shares in the company, valued at $721,904.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.59% of the stock is currently owned by company insiders.
ePlus inc., through its subsidiaries, provides information technology solutions that enable organizations to optimize their information technology (IT) environment and supply chain processes in the United States. It operates in two segments, Technology and Financing. The Technology segment offers hardware, software, maintenance, software assurance, and internally-provided and outsourced services; and advanced professional and managed services, including ePlus managed, professional, security, staff augmentation, server and desktop support, and project management services.
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