ePlus inc. $PLUS Stock: EULAV Asset Management Reduces Position

Key Points

• EULAV Asset Management cut its ePlus stake by 19.7% in the third quarter, selling 22,000 shares and retaining 89,600 shares valued at approximately $8.1 million. Institutional investors collectively own 93.8% of the company.
• Analysts maintain a generally neutral view, with ePlus receiving an average “Hold” rating. The company nevertheless exceeded quarterly expectations, reporting $1.28 in EPS versus the $1.19 consensus and revenue of $649.1 million.
• ePlus shares opened at $95.36, near their 52-week high of $98.14. The company pays a quarterly dividend of $0.27 per share, equivalent to an annualized $1.08 dividend and a 1.1% yield.

EULAV Asset Management lowered its holdings in shares of ePlus inc. (NASDAQ:PLUS - Free Report) by 19.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,600 shares of the software maker's stock after selling 22,000 shares during the period. EULAV Asset Management owned about 0.34% of ePlus worth $8,065,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new stake in shares of ePlus in the second quarter valued at approximately $5,186,000. The Manufacturers Life Insurance Company purchased a new position in shares of ePlus during the 2nd quarter worth approximately $1,102,000. Dimensional Fund Advisors LP raised its position 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 during the last quarter. Bank of America Corp DE acquired a new position in shares of ePlus during the 2nd quarter worth approximately $9,796,000. Finally, Lazard Asset Management LLC acquired a new position in shares of ePlus during the 1st quarter worth approximately $3,601,000. Institutional investors and hedge funds own 93.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ePlus in a research note on Tuesday, October 6th. Zacks Research raised ePlus from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, ePlus has an average rating of "Hold".

Insider Transactions at ePlus

In other news, CFO Elaine Marion sold 5,514 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $96.41, for a total transaction of $531,604.74. Following the transaction, the chief financial officer directly owned 84,259 shares in the company, valued at $8,123,410.19. This represents a 6.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Darren Raiguel sold 1,935 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was 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 have sold a total of 19,700 shares of company stock worth $1,875,748 in the last three months. Company insiders own 2.20% of the company's stock.

ePlus Price Performance

Shares of NASDAQ:PLUS opened at $95.36 on Monday. The company has a market cap of $2.49 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.23 and a beta of 0.96. ePlus inc. has a 52 week low of $70.96 and a 52 week high of $98.14. The business has a fifty day simple moving average of $90.94 and a 200-day simple moving average of $87.30.

ePlus (NASDAQ:PLUS - Get Free Report) last released its earnings results on Tuesday, August 4th. The software maker reported $1.28 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 firm had revenue of $649.11 million during the quarter, compared to analyst estimates of $639.95 million. Sell-side analysts expect that ePlus inc. will post 4.86 earnings per share for the current fiscal year.

ePlus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Tuesday, August 25th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. ePlus's dividend payout ratio is currently 23.63%.

ePlus Company Profile

ePlus inc. NASDAQ: PLUS provides technology solutions, professional services and financing to organizations in the commercial, government, healthcare and education sectors. Through its technology business, the company helps customers plan, implement and manage information technology environments, including data center, networking, cybersecurity, collaboration, cloud and digital infrastructure solutions.

The company also offers managed and professional services, technology consulting, IT asset management, and lifecycle services.

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