Magnetar Financial LLC Acquires New Position in ePlus inc. (NASDAQ:PLUS)

Magnetar Financial LLC bought a new position in shares of ePlus inc. (NASDAQ:PLUS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 8,121 shares of the software maker’s stock, valued at approximately $598,000.

Several other hedge funds also recently made changes to their positions in the company. CWM LLC lifted its stake in ePlus by 1,247.7% during the second quarter. CWM LLC now owns 593 shares of the software maker’s stock worth $44,000 after purchasing an additional 549 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in shares of ePlus in the 1st quarter worth about $58,000. Innealta Capital LLC acquired a new position in shares of ePlus in the 2nd quarter valued at about $66,000. EntryPoint Capital LLC boosted its holdings in shares of ePlus by 1,236.7% in the 1st quarter. EntryPoint Capital LLC now owns 1,056 shares of the software maker’s stock valued at $83,000 after buying an additional 977 shares during the period. Finally, Picton Mahoney Asset Management bought a new stake in shares of ePlus during the 2nd quarter valued at about $156,000. Institutional investors and hedge funds own 93.80% of the company’s stock.

Insider Buying and Selling

In other ePlus news, CFO Elaine D. Marion sold 5,000 shares of ePlus stock in a transaction on Monday, September 16th. The stock was sold at an average price of $92.19, for a total transaction of $460,950.00. Following the sale, the chief financial officer now owns 64,442 shares of the company’s stock, valued at approximately $5,940,907.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded ePlus from a “hold” rating to a “buy” rating in a research report on Tuesday.

ePlus Stock Down 0.4 %

PLUS stock opened at $97.94 on Wednesday. The stock has a market cap of $2.63 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The firm’s 50-day simple moving average is $90.19 and its 200 day simple moving average is $81.37. ePlus inc. has a fifty-two week low of $53.53 and a fifty-two week high of $102.32. The company has a quick ratio of 1.87, a current ratio of 2.01 and a debt-to-equity ratio of 0.01.

ePlus (NASDAQ:PLUS) last posted its earnings results on Tuesday, August 6th. The software maker reported $1.02 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.03). The firm had revenue of $544.54 million during the quarter, compared to the consensus estimate of $555.23 million. ePlus had a return on equity of 12.32% and a net margin of 4.98%. As a group, sell-side analysts predict that ePlus inc. will post 4.67 EPS for the current year.

About ePlus

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.