Northern Trust Corp Boosts Stock Holdings in ePlus inc. $PLUS

Key Points

• Northern Trust Corp increased its holdings in ePlus inc. by 2.5%, owning a total of 509,020 shares worth approximately $31 million.
• ePlus announced a quarterly dividend of $0.25 per share, set to be paid on September 17th, with a 1.4% yield and a payout ratio of 22.42%.
• Analysts have a consensus rating of "Hold" for ePlus, with recent ratings changes including upgrades and downgrades from Zacks Research and Wall Street Zen.

Northern Trust Corp raised its position in ePlus inc. (NASDAQ:PLUS - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 509,020 shares of the software maker's stock after purchasing an additional 12,372 shares during the period. Northern Trust Corp owned about 1.91% of ePlus worth $31,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MetLife Investment Management LLC grew its stake in ePlus by 6.6% in the 4th quarter. MetLife Investment Management LLC now owns 15,995 shares of the software maker's stock valued at $1,182,000 after acquiring an additional 996 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of ePlus by 20.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 226,724 shares of the software maker's stock valued at $16,751,000 after purchasing an additional 38,317 shares in the last quarter. Quarry LP grew its position in shares of ePlus by 1,000.0% in the fourth quarter. Quarry LP now owns 473 shares of the software maker's stock valued at $35,000 after purchasing an additional 430 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of ePlus by 532.0% during the 4th quarter. BNP Paribas Financial Markets now owns 85,192 shares of the software maker's stock worth $6,294,000 after purchasing an additional 71,712 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of ePlus during the 4th quarter worth approximately $127,898,000. Institutional investors and hedge funds own 93.80% of the company's stock.

ePlus Price Performance

PLUS stock traded down $0.09 during midday trading on Thursday, hitting $69.48. The stock had a trading volume of 11,338 shares, compared to its average volume of 201,361. The company's 50-day moving average price is $69.83 and its 200 day moving average price is $66.77. The firm has a market cap of $1.85 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 2.18 and a beta of 1.17. ePlus inc. has a 12-month low of $53.83 and a 12-month high of $106.98.

ePlus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, August 26th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 26th. ePlus's dividend payout ratio is presently 22.42%.

Wall Street Analyst Weigh In

PLUS has been the topic of a number of recent research reports. Zacks Research raised ePlus from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Wall Street Zen cut ePlus from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

ePlus Company 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.