STOCKHOLDERS' EQUITY

9 Months Ended

Dec. 31, 2013

STOCKHOLDERS' EQUITY [Abstract]

STOCKHOLDERS' EQUITY

9. STOCKHOLDERS' EQUITY

On November 13, 2013, our board of directors has authorized the Company to repurchase up to 750,000 shares of ePlus' outstanding common stock over a 12-month period commencing on November 14, 2013. The purchases may be made from time to time in the open market, or in privately negotiated transactions, subject to availability. Any repurchased shares will have the status of treasury shares and may be used, when needed, for general corporate purposes.

During the nine months ended December 31, 2013, we repurchased 145,508 shares of our outstanding common stock at an average cost of $53.62 per share for a total purchase price of $7.8 million. Since the inception of our initial repurchase program on September 20, 2001 to December 31, 2013, we have repurchased 4.8 million shares of our outstanding common stock at an average cost of $15.14 per share for a total purchase price of $73.1 million.