Wellington Management Group LLP Sells 169,199 Shares of ePlus inc. $PLUS

Key Points

• Wellington Management cut its ePlus stake by 37.1%, selling 169,199 shares and retaining 287,417 shares valued at approximately $23.9 million. Institutional investors collectively own 93.8% of the company.
• ePlus exceeded quarterly expectations, reporting $1.28 in EPS versus the $1.19 consensus estimate and revenue of $649.1 million versus $640.0 million expected.
• Analysts maintain a consensus “Hold” rating; the stock recently traded at $92.10, while ePlus declared a quarterly dividend of $0.27, implying a 1.2% annualized yield.

Wellington Management Group LLP lowered its holdings in shares of ePlus inc. (NASDAQ:PLUS - Free Report) by 37.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,417 shares of the software maker's stock after selling 169,199 shares during the period. Wellington Management Group LLP owned about 1.10% of ePlus worth $23,922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLUS. Osaic Holdings Inc. raised its stake in shares of ePlus by 361.9% in the 2nd quarter. Osaic Holdings Inc. now owns 448 shares of the software maker's stock valued at $32,000 after buying an additional 351 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of ePlus during the 2nd quarter valued at about $51,000. Kestra Advisory Services LLC bought a new stake in ePlus in the fourth quarter valued at about $108,000. US Bancorp DE increased its stake in ePlus by 856.4% in the third quarter. US Bancorp DE now owns 1,731 shares of the software maker's stock valued at $123,000 after acquiring an additional 1,550 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ePlus in the fourth quarter worth about $138,000. Institutional investors own 93.80% of the company's stock.

Insiders Place Their Bets

In other news, COO Darren Raiguel sold 1,935 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $94.06, for a total transaction of $182,006.10. Following the sale, the chief operating officer owned 69,236 shares in the company, valued at approximately $6,512,338.16. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Callies sold 500 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $88.09, for a total value of $44,045.00. Following the sale, the director owned 20,648 shares in the company, valued at $1,818,882.32. The trade was a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 13,700 shares of company stock valued at $1,301,128. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

ePlus Trading Up 1.4%

NASDAQ PLUS opened at $92.10 on Friday. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 1.18 and a beta of 0.97. The company has a 50 day moving average of $88.04 and a 200-day moving average of $83.67. ePlus inc. has a 1-year low of $69.25 and a 1-year high of $98.14.

ePlus (NASDAQ:PLUS - Get Free Report) last announced its earnings results 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 business had revenue of $649.11 million for the quarter, compared to the consensus estimate of $639.95 million. ePlus had a return on equity of 11.51% and a net margin of 4.91%. On average, analysts forecast that ePlus inc. will post 4.86 earnings per share for the current year.

ePlus Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders 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 dividend on an annualized basis and a yield of 1.2%. ePlus's payout ratio is currently 23.63%.

About ePlus

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.