Algert Global LLC Lowers Holdings in ePlus inc. $PLUS

Key Points

• Algert Global LLC reduced its stake in ePlus inc. by 58.1%, selling 7,990 shares and leaving it with 5,752 shares valued at approximately $351,000.
• ePlus reported quarterly earnings of $0.95 per share, exceeding analysts' expectations of $0.87, but its revenue of $498.11 million fell short of the projected $523.85 million.
• The firm announced a $0.25 quarterly dividend, which will be paid on September 17th, translating to an annual yield of 1.4%.

Algert Global LLC trimmed its position in ePlus inc. (NASDAQ:PLUS - Free Report) by 58.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,752 shares of the software maker's stock after selling 7,990 shares during the period. Algert Global LLC's holdings in ePlus were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PLUS. Renaissance Technologies LLC acquired a new position in shares of ePlus in the 4th quarter valued at $1,374,000. Mariner LLC boosted its holdings in ePlus by 6.7% in the fourth quarter. Mariner LLC now owns 9,431 shares of the software maker's stock valued at $697,000 after purchasing an additional 589 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in ePlus by 6.6% in the fourth quarter. MetLife Investment Management LLC now owns 15,995 shares of the software maker's stock valued at $1,182,000 after purchasing an additional 996 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ePlus by 20.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 226,724 shares of the software maker's stock valued at $16,751,000 after purchasing an additional 38,317 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in ePlus in the fourth quarter valued at $60,000. 93.80% of the stock is owned by institutional investors and hedge funds.

ePlus Price Performance

ePlus stock traded down $0.59 during midday trading on Friday, reaching $72.37. The company had a trading volume of 123,909 shares, compared to its average volume of 192,033. The company has a market capitalization of $1.93 billion, a P/E ratio of 16.23, a P/E/G ratio of 2.18 and a beta of 1.14. ePlus inc. has a 12-month low of $53.83 and a 12-month high of $106.98. The firm's fifty day simple moving average is $69.99 and its 200-day simple moving average is $66.73.

ePlus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, August 26th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. ePlus's dividend payout ratio (DPR) is currently 22.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PLUS shares. Zacks Research raised shares of ePlus from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Wall Street Zen lowered shares of ePlus from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, ePlus currently has an average rating of "Hold".

ePlus Profile

ePlus inc., together with its subsidiaries, provides information technology (IT) solutions that enable organizations to optimize their IT environment and supply chain processes in the United States and internationally. It operates through two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; managed services or infrastructure and cloud; and enhanced maintenance support, service desk, storage-as-a-service, cloud hosted and managed, and managed security services; and professional, staff augmentation, cloud consulting, consulting, and security services.