Bank of New York Mellon Corp Invests $18.21 Million in ePlus inc. $PLUS

Key Points

• Bank of New York Mellon acquired 218,797 ePlus shares valued at approximately $18.21 million, giving it a 0.84% stake. Institutional investors and hedge funds collectively own 93.8% of the company.
• ePlus exceeded quarterly expectations, reporting $1.28 in earnings per share versus the $1.19 consensus estimate and revenue of $649.11 million versus $639.95 million expected.
• The company declared a quarterly dividend of $0.27, equivalent to a $1.08 annualized payout and a 1.2% yield. Analysts maintain a consensus “Hold” rating, while insiders sold 13,700 shares worth about $1.30 million during the quarter.

Bank of New York Mellon Corp acquired a new stake in shares of ePlus inc. (NASDAQ:PLUS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 218,797 shares of the software maker's stock, valued at approximately $18,210,000. Bank of New York Mellon Corp owned 0.84% of ePlus as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased 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 valued at $98,604,000 after buying an additional 48,158 shares in the last quarter. First Trust Advisors LP grew its stake in ePlus by 118.2% in the first 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. Lazard Asset Management LLC bought a new stake in shares of ePlus in the first quarter worth about $3,601,000. GSA Capital Partners LLP acquired a new stake in shares of ePlus during the second quarter worth about $1,679,000. Finally, Royal Bank of Canada raised its position in shares of ePlus by 9.6% during the first quarter. Royal Bank of Canada now owns 278,636 shares of the software maker's stock worth $20,968,000 after purchasing an additional 24,348 shares during the period. 93.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Elaine D. Marion sold 5,514 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $96.41, for a total transaction of $531,604.74. Following the transaction, the chief financial officer owned 84,259 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Callies sold 500 shares of ePlus stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $88.09, for a total transaction of $44,045.00. Following the completion of the sale, the director owned 20,648 shares of the company's stock, valued at $1,818,882.32. This trade represents a 2.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,700 shares of company stock valued at $1,301,128. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research upgraded 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 equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, ePlus presently has a consensus rating of "Hold".

ePlus Stock Performance

Shares of ePlus stock opened at $87.97 on Tuesday. The business's 50 day simple moving average is $87.32 and its 200 day simple moving average is $83.51. ePlus inc. has a 52-week low of $69.07 and a 52-week high of $98.14. The firm has a market cap of $2.30 billion, a PE ratio of 19.25, a P/E/G ratio of 1.12 and a beta of 1.00.

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

ePlus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, August 25th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 25th. ePlus's payout ratio is currently 23.63%.

ePlus Profile

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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