Deerfield Management Company L.P. Series C Purchases Shares of 7,237 ePlus inc. (NASDAQ:PLUS)

Deerfield Management Company L.P. Series C acquired a new stake in ePlus inc. (NASDAQ:PLUS) in the second quarter, HoldingsChannel reports. The fund acquired 7,237 shares of the software maker’s stock, valued at approximately $533,000.

Other institutional investors also recently modified their holdings of the company. CWM LLC grew its holdings 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 period. YHB Investment Advisors Inc. bought a new position in shares of ePlus during the 1st quarter worth approximately $58,000. Innealta Capital LLC acquired a new position in shares of ePlus during the 2nd quarter worth approximately $66,000. EntryPoint Capital LLC raised its stake in 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 acquiring an additional 977 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in ePlus during the 2nd quarter valued at $156,000. 93.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ePlus

In related news, CFO Elaine D. Marion sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $92.19, for a total transaction of $460,950.00. Following the transaction, the chief financial officer now directly owns 64,442 shares of the company’s stock, valued at $5,940,907.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.41% of the company’s stock.

Analysts Set New Price Targets

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

ePlus Trading Up 0.8 %

Shares of PLUS stock opened at $98.82 on Friday. ePlus inc. has a 12-month low of $53.53 and a 12-month high of $102.32. The firm has a 50 day moving average price of $90.82 and a two-hundred day moving average price of $81.59. The company has a quick ratio of 1.87, a current ratio of 2.01 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.66 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

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