Fifth Third Bancorp Purchases 60,251 Shares of ePlus inc. $PLUS

Key Points

• Fifth Third Bancorp sharply increased its stake in ePlus during the first quarter, buying 60,251 additional shares and lifting its holdings to 60,456 shares worth about $4.55 million.
• ePlus reported better-than-expected quarterly results, posting EPS of $1.00 versus the $0.98 consensus and revenue of $581.63 million versus the $569.25 million estimate.
• The company also raised its quarterly dividend to $0.27 per share from $0.25, while analysts currently lean cautious with a consensus rating of “Reduce.”

Fifth Third Bancorp raised its holdings in shares of ePlus inc. (NASDAQ:PLUS - Free Report) by 29,390.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,456 shares of the software maker's stock after acquiring an additional 60,251 shares during the quarter. Fifth Third Bancorp owned approximately 0.23% of ePlus worth $4,549,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Neumeier Poma Investment Counsel LLC bought a new position in shares of ePlus in the fourth quarter worth about $24,681,000. First Trust Advisors LP raised its stake in ePlus by 1,209.9% during the 4th quarter. First Trust Advisors LP now owns 265,373 shares of the software maker's stock valued at $23,273,000 after purchasing an additional 245,114 shares during the period. Bragg Financial Advisors Inc raised its stake in ePlus by 787.7% during the 4th quarter. Bragg Financial Advisors Inc now owns 181,922 shares of the software maker's stock valued at $15,955,000 after purchasing an additional 161,428 shares during the period. Medina Value Partners LLC lifted its holdings in ePlus by 410.6% in the 4th quarter. Medina Value Partners LLC now owns 196,285 shares of the software maker's stock worth $17,214,000 after purchasing an additional 157,843 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in ePlus by 153.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 210,806 shares of the software maker's stock worth $18,488,000 after purchasing an additional 127,702 shares in the last quarter. 93.80% of the stock is owned by institutional investors.

ePlus Trading Up 1.7%

Shares of ePlus stock opened at $89.27 on Friday. The firm has a market cap of $2.49 billion, a PE ratio of 18.44, a PEG ratio of 1.18 and a beta of 1.02. The stock has a 50 day moving average of $83.72 and a 200 day moving average of $83.03. ePlus inc. has a 12 month low of $62.11 and a 12 month high of $93.98.

ePlus (NASDAQ:PLUS - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. The business had revenue of $581.63 million for the quarter, compared to the consensus estimate of $569.25 million. ePlus had a return on equity of 11.36% and a net margin of 5.24%. As a group, equities research analysts forecast that ePlus inc. will post 4.66 earnings per share for the current fiscal year.

ePlus Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Wednesday, June 17th were given a $0.27 dividend. This is a boost from ePlus's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, June 17th. ePlus's dividend payout ratio (DPR) is presently 22.31%.

Insider Transactions at ePlus

In related news, COO Darren S. Raiguel sold 1,000 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $89.95, for a total transaction of $89,950.00. Following the sale, the chief operating officer owned 55,748 shares of the company's stock, valued at $5,014,532.60. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,289 shares of company stock worth $115,757 over the last quarter. 1.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PLUS shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ePlus in a report on Friday, July 10th. Wall Street Zen downgraded shares of ePlus from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Zacks Research lowered shares of ePlus from a "hold" rating to a "strong sell" rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ePlus has a consensus rating of "Reduce".

ePlus Company 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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