PNC Financial Services Group Inc. Sells 5,204 Shares of ePlus inc. (NASDAQ:PLUS)

PNC Financial Services Group Inc. trimmed its position in shares of ePlus inc. (NASDAQ:PLUS) by 54.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,388 shares of the software maker’s stock after selling 5,204 shares during the period. PNC Financial Services Group Inc.’s holdings in ePlus were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PLUS. Gobi Capital LLC bought a new position in ePlus during the 4th quarter valued at approximately $49,190,000. FMR LLC lifted its stake in ePlus by 4,840.2% in the third quarter. FMR LLC now owns 286,975 shares of the software maker’s stock worth $18,229,000 after acquiring an additional 281,166 shares during the period. Vanguard Group Inc. boosted its holdings in ePlus by 1.4% in the third quarter. Vanguard Group Inc. now owns 2,376,006 shares of the software maker’s stock valued at $150,924,000 after acquiring an additional 32,353 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in ePlus during the 4th quarter valued at $1,078,000. Finally, Lazard Asset Management LLC raised its holdings in ePlus by 832.2% in the 3rd quarter. Lazard Asset Management LLC now owns 14,412 shares of the software maker’s stock worth $915,000 after purchasing an additional 12,866 shares in the last quarter. 93.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stifel Nicolaus boosted their price target on shares of ePlus from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, May 23rd.

ePlus Price Performance

Shares of PLUS stock opened at $73.68 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 17.02 and a beta of 1.07. The business’s fifty day moving average is $76.41 and its 200 day moving average is $77.28. ePlus inc. has a twelve month low of $53.53 and a twelve month high of $83.57.

ePlus (NASDAQ:PLUS) last released its earnings results on Wednesday, May 22nd. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.26). The business had revenue of $554.46 million during the quarter, compared to analysts’ expectations of $553.05 million. ePlus had a return on equity of 13.47% and a net margin of 5.20%. Research analysts expect that ePlus inc. will post 4.8 EPS for the current fiscal year.

Insider Buying and Selling

In other ePlus news, CFO Elaine D. Marion sold 5,000 shares of ePlus stock in a transaction on Monday, June 17th. The stock was sold at an average price of $73.45, for a total transaction of $367,250.00. Following the completion of the transaction, the chief financial officer now owns 53,996 shares in the company, valued at $3,966,006.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Darren S. Raiguel sold 4,833 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $80.37, for a total value of $388,428.21. Following the completion of the transaction, the chief operating officer now directly owns 33,290 shares in the company, valued at approximately $2,675,517.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elaine D. Marion sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $73.45, for a total value of $367,250.00. Following the completion of the transaction, the chief financial officer now directly owns 53,996 shares in the company, valued at $3,966,006.20. The disclosure for this sale can be found here. 2.41% of the stock is currently owned by company insiders.

ePlus 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.