Monitoring ePlus inc. (PLUS) after recent insider movements

ePlus inc.’s recently made public that its Director HOVDE ERIC D unloaded Company’s shares for reported $1.26 million on Aug 31. In the deal valued at $66.76 per share,18,802 shares were sold. As a result of this transaction, HOVDE ERIC D now holds 17,301 shares worth roughly $ 1.15 million.

Then, HOVDE ERIC D sold 7,600 shares, generating $507,128 in total proceeds. Upon selling the shares at $66.73, the Director now owns 36,103 shares.

Before that, HOVDE ERIC D sold 10,396 shares. ePlus inc. shares valued at $674,212 were divested by the Director at a price of $64.85 per share. As a result of the transaction, HOVDE ERIC D now holds 10,000 shares, worth roughly $0.67 million.

Sidoti upgraded its ePlus inc. [PLUS] rating to a Buy from a a Neutral in a research note published on Friday.

Price Performance Review of PLUS

On Friday, ePlus inc. [NASDAQ:PLUS] saw its stock jump 0.20% to $66.51. On the same session, the stock had its day’s lowest price of $65.52, but rose to a high of $67.63. Over the last five days, the stock has gained 4.86%. ePlus inc. shares have risen nearly 50.20% since the year began. Nevertheless, the stocks have risen 41.15% over the past one year. While a 52-week high of $75.90 was reached on 08/08/23, a 52-week low of $40.37 was recorded on 05/04/23. SMA at 50 days reached $60.18, while 200 days put it at $51.96. A total of 0.11 million shares were traded, compared to the trading of 0.31 million shares in the previous session.

Levels Of Support And Resistance For PLUS Stock

The 24-hour chart illustrates a support level at 65.48, which if violated will result in even more drops to 64.44. On the upside, there is a resistance level at 67.59. A further resistance level may holdings at 68.66. The Relative Strength Index (RSI) on the 14-day chart is 66.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.50, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 21.16%. Stochastics %K at 84.20% indicates the stock is a selling.

How much short interest is there in ePlus inc.?

A steep rise in short interest was recorded in ePlus inc. stocks on Aug 14, 2023, growing by 3410.0 shares to a total of 0.39 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.38 million shares. There was a rise of 0.88%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.80% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.76.

ePlus inc. [PLUS] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 4,150,743 shares, or roughly 15.41% of the outstanding PLUS shares. In other words, the investor’s shares have risen by 95,947 from its previous 13-F filing of 4054796.0. Additionally, The Vanguard Group, Inc. increased 13.41% of its stake after which the total value it holdings stand at $129,698,710, while River Road Asset Management LLC added 3.86% of its stake to hold $111.18 million in the firm. Over the last quarter, Geneva Capital Management LLC purchased 1,576 shares of ePlus inc., while Dimensional Fund Advisors LP bought -13,860 shares. At present, Wellington Management Co. LLP is holding 1,090,600 shares valued at $61.46 million. AltraVue Capital LLC owned 992,460 shares of the company at the time of its most recent 13F filing, worth $55.93 million.

According to FactSet, ePlus inc.’s share price will average $76.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 14.49 percent from its previous closing price of $66.38. Analysts expect ePlus inc. stock to reach the higher price of $87.00, while the lowest price estimate is $65.00. However, 3 analysts have rated PLUS stock as an Overweight in their predictions for 2023.