Bank of America Corp DE trimmed its position in shares of ePlus inc. (NASDAQ:PLUS - Free Report) by 7.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,239 shares of the software maker's stock after selling 11,622 shares during the period. Bank of America Corp DE owned 0.51% of ePlus worth $10,177,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of ePlus by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 2,453,215 shares of the software maker's stock valued at $215,147,000 after purchasing an additional 8,146 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of ePlus by 3.8% during 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 in the last quarter. State Street Corp raised its position in shares of ePlus by 0.9% in the 2nd quarter. State Street Corp now owns 1,019,061 shares of the software maker's stock valued at $73,474,000 after buying an additional 8,956 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of ePlus by 118.2% in 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. Finally, Wellington Management Group LLP increased its position in ePlus by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 471,405 shares of the software maker's stock worth $33,474,000 after purchasing an additional 39,012 shares in the last quarter. 93.80% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have weighed in on PLUS shares. Zacks Research raised shares of ePlus from a "strong sell" rating to a "hold" rating in a report on Friday, July 31st. Weiss Ratings reissued a "hold (c+)" rating on shares of ePlus in a research report on Friday, July 10th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".
Get Our Latest Research Report on ePlus
Insider Activity
In related news, Director John E. Callies sold 500 shares of the stock in a transaction on Friday, August 14th. The stock was 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 in the company, valued at approximately $1,818,882.32. This trade represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Darren S. Raiguel sold 1,935 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $94.06, for a total transaction of $182,006.10. Following the completion of the sale, the chief operating officer directly owned 69,236 shares in the company, valued at $6,512,338.16. This represents a 2.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,700 shares of company stock worth $1,301,128 in the last three months. Corporate insiders own 2.20% of the company's stock.
ePlus Price Performance
PLUS opened at $86.85 on Monday. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.12 and a beta of 1.00. ePlus inc. has a twelve month low of $69.07 and a twelve month high of $98.14. The company's 50-day moving average price is $86.66 and its two-hundred day moving average price is $83.47.
ePlus (NASDAQ:PLUS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.09. The business had revenue of $649.11 million for the quarter, compared to analysts' expectations of $639.95 million. ePlus had a return on equity of 11.51% and a net margin of 4.91%. As a group, sell-side analysts anticipate that ePlus inc. will post 4.86 earnings per share for the current year.
ePlus Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, August 25th will be paid a $0.27 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.08 annualized dividend and a yield of 1.2%. ePlus's dividend payout ratio (DPR) is currently 23.63%.
ePlus Profile
(
Free Report)
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.
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