Swedbank AB Has $19.84 Million Stock Position in ePlus inc. $PLUS

Key Points

• Swedbank AB significantly increased its stake in ePlus inc. by 116.7% during the first quarter, owning approximately 1.23% of the company, worth nearly $19.84 million.
• Several institutional investors have also raised their holdings in ePlus, with some increasing their stakes over 600% during the same period.
• ePlus announced a quarterly dividend of $0.25 per share, with a yield of 1.4%, set to be paid on September 17th.

Swedbank AB increased its position in shares of ePlus inc. (NASDAQ:PLUS - Free Report) by 116.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 325,000 shares of the software maker's stock after buying an additional 175,000 shares during the quarter. Swedbank AB owned about 1.23% of ePlus worth $19,835,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PLUS. Quarry LP raised its stake in shares of ePlus by 33.6% in the first quarter. Quarry LP now owns 632 shares of the software maker's stock worth $39,000 after purchasing an additional 159 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of ePlus by 377.9% in 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 last quarter. GAMMA Investing LLC raised its stake in shares of ePlus by 625.5% in the first quarter. GAMMA Investing LLC now owns 1,023 shares of the software maker's stock worth $62,000 after purchasing an additional 882 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of ePlus by 34.1% in the first quarter. Advisors Asset Management Inc. now owns 1,503 shares of the software maker's stock worth $92,000 after purchasing an additional 382 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of ePlus by 628.3% in the first quarter. Jones Financial Companies Lllp now owns 3,066 shares of the software maker's stock worth $187,000 after purchasing an additional 2,645 shares during the last quarter. 93.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLUS has been the subject of several analyst reports. Wall Street Zen downgraded ePlus from a "buy" rating to a "hold" rating in a research note on Saturday. Zacks Research raised ePlus from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

ePlus Stock Performance

NASDAQ:PLUS opened at $73.84 on Monday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 2.22 and a beta of 1.17. ePlus inc. has a 52-week low of $53.83 and a 52-week high of $106.98. The stock has a fifty day moving average of $69.83 and a 200 day moving average of $66.98.

ePlus Announces Dividend

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

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.

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