BlackRock Inc. Invests $337.93 Million in ePlus inc. $PLUS

Key Points

• BlackRock acquired a new 15.55% stake in ePlus, purchasing 4.06 million shares valued at approximately $337.9 million. Institutional investors collectively own 93.8% of the company.
• ePlus exceeded quarterly expectations, reporting EPS of $1.28 versus the $1.19 consensus estimate and revenue of $649.1 million versus the $640.0 million forecast.
• Analysts maintain a consensus “Hold” rating, while insiders have sold 13,700 shares worth roughly $1.3 million over the past three months. ePlus also declared a quarterly dividend of $0.27, equivalent to a 1.3% annualized yield.

BlackRock Inc. bought a new stake in ePlus inc. (NASDAQ:PLUS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,060,186 shares of the software maker's stock, valued at approximately $337,929,000. BlackRock Inc. owned approximately 15.55% of ePlus at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vest Financial LLC bought a new position in ePlus during the fourth quarter worth about $1,511,000. Dimensional Fund Advisors LP lifted its position in shares of ePlus by 3.8% in the first 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 during the last quarter. Comerica Bank boosted its stake in shares of ePlus by 74.9% during the 4th quarter. Comerica Bank now owns 69,187 shares of the software maker's stock worth $6,068,000 after acquiring an additional 29,631 shares during the period. First Trust Advisors LP boosted its stake in shares of ePlus by 118.2% during the 1st quarter. First Trust Advisors LP now owns 579,047 shares of the software maker's stock worth $43,573,000 after acquiring an additional 313,674 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of ePlus during the 1st quarter worth approximately $3,601,000. 93.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLUS has been the subject of several research reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ePlus in a report on Friday, July 10th. Zacks Research raised shares of ePlus from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold".

Insider Activity at ePlus

In related news, COO Darren S. Raiguel sold 1,935 shares of the firm's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $94.06, for a total transaction of $182,006.10. Following the transaction, the chief operating officer directly owned 69,236 shares of the company's stock, valued at approximately $6,512,338.16. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 three months, insiders have sold 13,700 shares of company stock worth $1,301,128. Corporate insiders own 2.20% of the company's stock.

ePlus Trading Down 0.2%

Shares of NASDAQ PLUS opened at $86.16 on Thursday. The firm has a market cap of $2.25 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00. ePlus inc. has a 1-year low of $69.07 and a 1-year high of $98.14. The business's 50 day moving average is $86.92 and its 200-day moving average is $83.49.

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 (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.09. ePlus had a return on equity of 11.51% and a net margin of 4.91%.The business had revenue of $649.11 million during the quarter, compared to the consensus estimate of $639.95 million. Analysts forecast that ePlus inc. will post 4.86 EPS for the current year.

ePlus Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors 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 dividend yield of 1.3%. ePlus's dividend payout ratio is 23.63%.

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.

Want to see what other hedge funds are holding PLUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ePlus inc. (NASDAQ:PLUS - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source