The Manufacturers Life Insurance Company Buys Shares of 13,237 ePlus inc. $PLUS

Key Points

• The Manufacturers Life Insurance Company acquired 13,237 ePlus shares worth approximately $1.1 million, joining other institutional investors; institutions now own 93.8% of the stock.
• ePlus reported quarterly EPS of $1.28, beating estimates of $1.19, while revenue reached $649.1 million versus the $639.95 million consensus forecast.
• The company declared a quarterly dividend of $0.27, representing a $1.08 annualized payout and a 1.2% yield. Analysts maintain a consensus “Hold” rating, and insiders sold shares during the latest quarter.

The Manufacturers Life Insurance Company purchased a new stake in shares of ePlus inc. (NASDAQ:PLUS - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,237 shares of the software maker's stock, valued at approximately $1,102,000. The Manufacturers Life Insurance Company owned about 0.05% of ePlus as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in ePlus by 3.8% in the first 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. First Trust Advisors LP raised its stake in ePlus by 118.2% during the 1st quarter. First Trust Advisors LP now owns 579,047 shares of the software maker's stock valued at $43,573,000 after buying an additional 313,674 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of ePlus during the 1st quarter valued at $3,601,000. GSA Capital Partners LLP purchased a new position in shares of ePlus in the 2nd quarter worth $1,679,000. Finally, BlackRock Inc. purchased a new position in shares of ePlus in the 2nd quarter worth $337,929,000. 93.80% of the stock is currently owned by institutional investors.

ePlus Price Performance

Shares of ePlus stock opened at $92.10 on Friday. ePlus inc. has a 1-year low of $69.25 and a 1-year high of $98.14. The company's fifty day simple moving average is $88.04 and its 200-day simple moving average is $83.67. The stock has a market capitalization of $2.40 billion, a PE ratio of 20.15, a P/E/G ratio of 1.17 and a beta of 0.97.

ePlus (NASDAQ:PLUS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.28 EPS for the quarter, topping the consensus estimate of $1.19 by $0.09. The firm had revenue of $649.11 million during the quarter, compared to analyst estimates of $639.95 million. ePlus had a return on equity of 11.51% and a net margin of 4.91%. As a group, research analysts anticipate that ePlus inc. will post 4.86 EPS for the current year.

ePlus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, August 25th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. ePlus's dividend payout ratio (DPR) is 23.63%.

Analysts Set New Price Targets

PLUS has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of ePlus in a research report on Friday, July 10th. Zacks Research upgraded ePlus from a "strong sell" rating to a "hold" rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".

Insider Transactions at ePlus

In related news, COO Darren S. Raiguel sold 1,935 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $94.06, for a total value of $182,006.10. Following the completion of the sale, the chief operating officer directly owned 69,236 shares of the company's stock, valued at approximately $6,512,338.16. This represents a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John E. Callies sold 500 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $88.09, for a total transaction of $44,045.00. Following the completion of the sale, the director directly owned 20,648 shares of the company's stock, valued at $1,818,882.32. This represents a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,700 shares of company stock valued at $1,301,128 over the last quarter. 2.20% of the stock is currently owned by company insiders.

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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