Algert Global LLC Cuts Position in ePlus inc. $PLUS

Key Points

• Algert Global sharply reduced its ePlus position by 87.7% in the second quarter, leaving the fund with 7,062 shares worth approximately $588,000. Institutional investors collectively own 93.8% of the company.
• ePlus exceeded quarterly expectations, reporting earnings per share of $1.28 versus the $1.19 consensus and revenue of $649.1 million compared with estimates of $640.0 million.
• The stock opened at $87.28, while analysts maintain a consensus “Hold” rating. ePlus also announced a quarterly dividend of $0.27 per share, equivalent to a 1.2% annualized yield.

Algert Global LLC trimmed its holdings in shares of ePlus inc. (NASDAQ:PLUS - Free Report) by 87.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,062 shares of the software maker's stock after selling 50,580 shares during the period. Algert Global LLC's holdings in ePlus were worth $588,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of ePlus by 3.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,310,378 shares of the software maker's stock worth $98,604,000 after purchasing an additional 48,158 shares during the last quarter. First Trust Advisors LP increased its stake 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 purchasing an additional 313,674 shares in the last quarter. Lazard Asset Management LLC purchased a new position in ePlus in the first quarter worth about $3,601,000. GSA Capital Partners LLP purchased a new position in ePlus in the second quarter worth about $1,679,000. Finally, BlackRock Inc. bought a new position in shares of ePlus in the second quarter worth approximately $337,929,000. 93.80% of the stock is owned by institutional investors.

ePlus Price Performance

Shares of ePlus stock opened at $87.28 on Monday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.12 and a beta of 1.00. The company's 50 day moving average is $87.14 and its 200 day moving average is $83.50. ePlus inc. has a twelve month low of $69.07 and a twelve month high of $98.14.

ePlus (NASDAQ:PLUS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The software maker reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.09. The business 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%. Sell-side analysts expect that ePlus inc. will post 4.86 EPS for the current fiscal year.

ePlus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, August 25th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, August 25th. ePlus's dividend payout ratio is 23.63%.

Insider Buying and Selling at ePlus

In other ePlus news, CFO Elaine D. Marion sold 5,514 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $96.41, for a total value of $531,604.74. Following the transaction, the chief financial officer directly owned 84,259 shares of the company's stock, valued at approximately $8,123,410.19. This trade represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John E. Callies sold 500 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $88.09, for a total value 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. This represents a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 13,700 shares of company stock valued at $1,301,128. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PLUS has been the topic of a number of recent analyst reports. Weiss Ratings reiterated 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 research report on Friday, July 31st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

About ePlus

ePlus Inc NASDAQ: PLUS is a technology solutions provider that helps enterprises and public-sector organizations maximize the value of their information technology investments. The company specializes in designing, implementing and managing complex IT infrastructures, with a focus on security, cloud computing, data center modernization and unified communications. By combining consulting services with software license management and hardware procurement, ePlus delivers end-to-end solutions that align with its clients' strategic objectives.

The company's offerings include cybersecurity assessments and managed security services, hybrid and public cloud deployments, network architecture and optimization, and collaboration platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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