LPL Financial LLC Sells 6,634 Shares of ePlus inc. $PLUS

Key Points

• LPL Financial LLC reduced its holdings in ePlus inc. by 20.3% during the first quarter, now owning approximately 26,050 shares valued at $1.49 million.
• ePlus recently reported earnings per share (EPS) of $0.95 for the last quarter, exceeding the consensus estimate of $0.87, despite revenue falling short of expectations.
• The company announced a quarterly dividend of $0.25 per share, with an ex-dividend date of August 26th, representing an annualized yield of 1.4%.

LPL Financial LLC lessened its holdings in ePlus inc. (NASDAQ:PLUS - Free Report) by 20.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,050 shares of the software maker's stock after selling 6,634 shares during the quarter. LPL Financial LLC owned 0.10% of ePlus worth $1,492,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cascade Investment Advisors Inc. lifted its position in ePlus by 1.6% during the first quarter. Cascade Investment Advisors Inc. now owns 16,264 shares of the software maker's stock worth $993,000 after purchasing an additional 260 shares during the period. Vista Finance LLC lifted its position in ePlus by 7.8% during the first quarter. Vista Finance LLC now owns 4,606 shares of the software maker's stock worth $281,000 after purchasing an additional 333 shares during the period. Quarry LP lifted its position in ePlus by 1,000.0% during the fourth quarter. Quarry LP now owns 473 shares of the software maker's stock worth $35,000 after purchasing an additional 430 shares during the period. Versant Capital Management Inc lifted its position in ePlus by 377.9% during the first quarter. Versant Capital Management Inc now owns 712 shares of the software maker's stock worth $43,000 after purchasing an additional 563 shares during the period. Finally, Mariner LLC lifted its position in ePlus by 6.7% during the fourth quarter. Mariner LLC now owns 9,431 shares of the software maker's stock worth $697,000 after purchasing an additional 589 shares during the period. Institutional investors own 93.80% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of ePlus from a "buy" rating to a "hold" rating in a research report on Friday, June 27th.

ePlus Stock Down 1.1%

Shares of PLUS stock traded down $0.83 on Tuesday, reaching $71.52. The company had a trading volume of 140,087 shares, compared to its average volume of 204,639. The stock has a market capitalization of $1.90 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.22 and a beta of 1.14. ePlus inc. has a one year low of $53.83 and a one year high of $106.98. The business's 50-day moving average is $69.90 and its 200 day moving average is $66.62.

ePlus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, August 26th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%.

ePlus Profile

ePlus inc., together with its subsidiaries, provides information technology (IT) solutions that enable organizations to optimize their IT environment and supply chain processes in the United States and internationally. It operates through two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; managed services or infrastructure and cloud; and enhanced maintenance support, service desk, storage-as-a-service, cloud hosted and managed, and managed security services; and professional, staff augmentation, cloud consulting, consulting, and security services.