Today The Covey Capital Advisors LLC Has $378,000 Position in ePlus inc. (PLUS)

Today The Covey Capital Advisors LLC Has $378,000 Position in ePlus inc. (PLUS)

Covey Capital Advisors LLC maintained its stake in shares of ePlus inc. (NASDAQ:PLUS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,000 shares of the company’s stock at the end of the third quarter. Covey Capital Advisors LLC owned about 0.06% of ePlus inc. worth $378,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PLUS. Emerald Acquisition Ltd. acquired a new stake in shares of ePlus inc. during the second quarter worth approximately $2,465,000. Nordea Investment Management AB raised its stake in shares of ePlus inc. by 69.5% in the third quarter. Nordea Investment Management AB now owns 12,939 shares of the company’s stock worth $1,222,000 after buying an additional 5,307 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of ePlus inc. by 0.9% in the second quarter. California Public Employees Retirement System now owns 34,200 shares of the company’s stock worth $2,797,000 after buying an additional 300 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of ePlus inc. by 33.8% in the second quarter. Victory Capital Management Inc. now owns 1,433 shares of the company’s stock worth $117,000 after buying an additional 362 shares during the last quarter. Finally, ClariVest Asset Management LLC raised its stake in shares of ePlus inc. by 15.4% in the second quarter. ClariVest Asset Management LLC now owns 10,516 shares of the company’s stock worth $860,000 after buying an additional 1,400 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

ePlus inc. (NASDAQ:PLUS) opened at 112.55 on Wednesday. The company has a market capitalization of $796.85 million, a P/E ratio of 16.99 and a beta of 1.16. ePlus inc. has a one year low of $61.78 and a one year high of $119.35. The stock’s 50 day moving average price is $114.84 and its 200 day moving average price is $97.87.

PLUS has been the subject of a number of research reports. Stifel Nicolaus increased their price objective on ePlus inc. from $95.00 to $113.00 and gave the stock a “hold” rating in a report on Friday, December 9th. Canaccord Genuity reiterated a “buy” rating and issued a $117.00 price objective on shares of ePlus inc. in a report on Tuesday, January 10th. Zacks Investment Research upgraded ePlus inc. from a “hold” rating to a “strong-buy” rating and set a $112.00 price objective for the company in a report on Tuesday, November 8th. Finally, Sidoti downgraded ePlus inc. from a “buy” rating to a “neutral” rating and set a $110.00 price objective for the company. in a report on Tuesday, November 15th.

In related news, CFO Elaine D. Marion sold 3,000 shares of the business’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $116.60, for a total transaction of $349,800.00. Following the completion of the transaction, the chief financial officer now owns 46,852 shares in the company, valued at approximately $5,462,943.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric D. Hovde sold 1,144 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $112.48, for a total value of $128,677.12. Following the transaction, the director now owns 76,207 shares of the company’s stock, valued at approximately $8,571,763.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,262 shares of company stock worth $15,409,586. Corporate insiders own 8.20% of the company’s stock.

About ePlus inc.

ePlus inc. is a holding company. The Company is engaged in the business of selling, leasing, financing and managing information technology. It operates through two segments: technology and financing. The technology segment sells information technology (IT) hardware products, third-party software and maintenance contracts, its own and third-party professional and managed services, and its software.

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