Millennium Management LLC Raises Stock Position in ePlus inc. (NASDAQ:PLUS)

Millennium Management LLC raised its position in ePlus inc. (NASDAQ:PLUS) by 4,036.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 251,430 shares of the software maker’s stock after purchasing an additional 245,351 shares during the quarter. Millennium Management LLC owned about 0.93% of ePlus worth $18,525,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Gobi Capital LLC acquired a new position in ePlus in the fourth quarter valued at about $49,190,000. Capstone Investment Advisors LLC purchased a new position in shares of ePlus during the 1st quarter worth approximately $1,903,000. LSV Asset Management increased its holdings in ePlus by 349.0% in the 1st quarter. LSV Asset Management now owns 16,165 shares of the software maker’s stock valued at $1,270,000 after purchasing an additional 12,565 shares during the last quarter. BNP Paribas Financial Markets raised its position in ePlus by 100.6% in the first quarter. BNP Paribas Financial Markets now owns 40,552 shares of the software maker’s stock valued at $3,185,000 after purchasing an additional 20,340 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in ePlus by 68.0% during the first quarter. Janus Henderson Group PLC now owns 64,597 shares of the software maker’s stock worth $5,073,000 after purchasing an additional 26,143 shares in the last quarter. Hedge funds and other institutional investors own 93.80% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut ePlus from a “buy” rating to a “hold” rating in a research note on Wednesday.

Insider Activity at ePlus

In other ePlus news, CFO Elaine D. Marion sold 5,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $92.19, for a total value of $460,950.00. Following the sale, the chief financial officer now owns 64,442 shares of the company’s stock, valued at $5,940,907.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.41% of the stock is currently owned by company insiders.

ePlus Trading Up 3.4 %

NASDAQ PLUS opened at $98.30 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.87 and a current ratio of 2.01. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.11 and a beta of 1.11. The firm has a 50 day simple moving average of $92.02 and a 200-day simple moving average of $82.33. ePlus inc. has a one year low of $53.53 and a one year high of $102.32.

ePlus (NASDAQ:PLUS) last released its earnings results on Tuesday, August 6th. The software maker reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.03). The business had revenue of $544.54 million for the quarter, compared to analyst estimates of $555.23 million. ePlus had a return on equity of 12.32% and a net margin of 4.98%. Equities research analysts anticipate that ePlus inc. will post 4.67 EPS 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 through two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; managed services or infrastructure and cloud; and enhanced maintenance support, service desk, storage-as-a-service, cloud hosted and managed, and managed security services; and professional, staff augmentation, cloud consulting, consulting, and security services.