117,693 Shares of ePlus inc. $PLUS Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 117,693 ePlus shares worth approximately $9.8 million, while other institutions—including BlackRock and First Trust Advisors—also increased or initiated positions. Institutional investors collectively own 93.8% of the company.
• ePlus exceeded quarterly expectations, reporting $1.28 in EPS versus the $1.19 consensus and revenue of $649.1 million versus $640.0 million expected. Analysts project $4.86 in full-year EPS.
• The company pays a quarterly dividend of $0.27 per share, equal to a 1.2% yield, while analysts maintain an overall “Hold” rating; shares recently traded at $90.51 within a $69.25–$98.14 one-year range.

Bank of America Corp DE bought a new position in shares of ePlus inc. (NASDAQ:PLUS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 117,693 shares of the software maker's stock, valued at approximately $9,796,000. Bank of America Corp DE owned 0.45% of ePlus as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. BlackRock Inc. bought a new position in ePlus in the 2nd quarter worth approximately $337,929,000. First Trust Advisors LP raised its holdings in ePlus by 118.2% during the 1st quarter. First Trust Advisors LP now owns 579,047 shares of the software maker's stock valued at $43,573,000 after acquiring an additional 313,674 shares during the period. Neumeier Poma Investment Counsel LLC bought a new stake in ePlus during the 4th quarter valued at $24,681,000. Bank of New York Mellon Corp purchased a new stake in shares of ePlus during the second quarter worth $18,210,000. Finally, Medina Value Partners LLC lifted its position in shares of ePlus by 410.6% during the fourth quarter. Medina Value Partners LLC now owns 196,285 shares of the software maker's stock worth $17,214,000 after acquiring an additional 157,843 shares in the last quarter. Hedge funds and other institutional investors own 93.80% of the company's stock.

ePlus Price Performance

Shares of PLUS opened at $90.51 on Friday. ePlus inc. has a 1-year low of $69.25 and a 1-year high of $98.14. The company has a market capitalization of $2.36 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.16 and a beta of 0.97. The firm's 50 day simple moving average is $89.83 and its 200 day simple moving average is $84.80.

ePlus (NASDAQ:PLUS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.09. The company had revenue of $649.11 million during the quarter, compared to the consensus estimate of $639.95 million. ePlus had a net margin of 4.91% and a return on equity of 11.51%. On average, equities analysts anticipate that ePlus inc. will post 4.86 earnings per share for the current year.

ePlus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Tuesday, August 25th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. ePlus's dividend payout ratio (DPR) is 23.63%.

Insider Transactions at ePlus

In other ePlus news, COO Darren S. Raiguel sold 470 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $93.11, for a total value of $43,761.70. Following the completion of the sale, the chief operating officer directly owned 67,182 shares of the company's stock, valued at $6,255,316.02. The trade was a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John E. Callies sold 500 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $88.09, for a total transaction of $44,045.00. Following the sale, the director owned 20,648 shares of the company's stock, valued at approximately $1,818,882.32. The trade was a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 14,694 shares of company stock worth $1,393,744. 2.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PLUS has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ePlus in a report on Friday, July 10th. Zacks Research raised ePlus from a "strong sell" rating to a "hold" rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, ePlus currently has an average rating of "Hold".

ePlus Company Profile

ePlus inc. NASDAQ: PLUS is a technology solutions provider that helps organizations design, implement and manage information technology environments. The company provides products and services spanning data center infrastructure, networking, cybersecurity, cloud computing, collaboration and unified communications, and digital transformation. Its offerings include hardware, software, professional services and ongoing managed services.

ePlus works with businesses, government agencies, educational institutions and healthcare organizations.

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