Allspring Global Investments Holdings LLC Buys 17,151 Shares of ePlus inc. $PLUS

Key Points

• Allspring Global Investments increased its stake in ePlus inc. by 28.2% during the 2nd quarter, acquiring an additional 17,151 shares for a total of 77,940 shares valued at approximately $5.57 million.
• ePlus announced a quarterly dividend of $0.25, translating to an annualized dividend of $1.00 and a dividend yield of 1.4%.
• Stock analysts have upgraded ePlus's rating, with Zacks Research moving it from a "strong sell" to a "hold" and Wall Street Zen upgrading it to a "buy."

Allspring Global Investments Holdings LLC boosted its holdings in ePlus inc. (NASDAQ:PLUS - Free Report) by 28.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,940 shares of the software maker's stock after buying an additional 17,151 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.29% of ePlus worth $5,569,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quarry LP lifted its holdings in ePlus by 33.6% in the first quarter. Quarry LP now owns 632 shares of the software maker's stock valued at $39,000 after buying an additional 159 shares during the period. GAMMA Investing LLC lifted its holdings in ePlus by 625.5% in the first quarter. GAMMA Investing LLC now owns 1,023 shares of the software maker's stock valued at $62,000 after buying an additional 882 shares during the period. Advisors Asset Management Inc. lifted its holdings in ePlus by 34.1% in the first quarter. Advisors Asset Management Inc. now owns 1,503 shares of the software maker's stock valued at $92,000 after buying an additional 382 shares during the period. CWM LLC lifted its holdings in ePlus by 302.9% in the second quarter. CWM LLC now owns 2,788 shares of the software maker's stock valued at $201,000 after buying an additional 2,096 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in ePlus by 628.3% in the first quarter. Jones Financial Companies Lllp now owns 3,066 shares of the software maker's stock valued at $187,000 after buying an additional 2,645 shares during the period. 93.80% of the stock is currently owned by institutional investors and hedge funds.

ePlus Trading Up 2.2%

ePlus stock opened at $72.95 on Tuesday. The company has a market cap of $1.94 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.15. ePlus inc. has a 1-year low of $53.83 and a 1-year high of $106.98. The company has a fifty day simple moving average of $72.47 and a 200 day simple moving average of $68.67.

ePlus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, August 26th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 26th. ePlus's dividend payout ratio (DPR) is 22.42%.

Analyst Ratings Changes

Several research firms have weighed in on PLUS. Zacks Research upgraded shares of ePlus from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Wall Street Zen upgraded shares of ePlus from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of ePlus in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

ePlus Company 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.

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