Weiss Asset Management LP Invests $753,000 in ePlus inc. $PLUS

Weiss Asset Management LP purchased a new position in ePlus inc. (NASDAQ:PLUS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,010 shares of the software maker’s stock, valued at approximately $753,000.

Several other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP increased 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 purchasing an additional 313,674 shares in the last quarter. Neumeier Poma Investment Counsel LLC bought a new position in shares of ePlus in the fourth quarter worth approximately $24,681,000. Bragg Financial Advisors Inc lifted its stake in shares of ePlus by 787.7% in the fourth quarter. Bragg Financial Advisors Inc now owns 181,922 shares of the software maker’s stock worth $15,955,000 after buying an additional 161,428 shares in the last quarter. Medina Value Partners LLC lifted its stake in shares of ePlus by 410.6% in the fourth quarter. Medina Value Partners LLC now owns 196,285 shares of the software maker’s stock worth $17,214,000 after buying an additional 157,843 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of ePlus by 153.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 210,806 shares of the software maker’s stock valued at $18,488,000 after buying an additional 127,702 shares during the last quarter. 93.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PLUS shares. Zacks Research lowered shares of ePlus from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ePlus in a research note on Friday, July 10th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Insider Activity

In other news, COO Darren S. Raiguel sold 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $89.95, for a total value of $89,950.00. Following the transaction, the chief operating officer directly owned 55,748 shares in the company, valued at $5,014,532.60. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 1,289 shares of company stock valued at $115,757. Company insiders own 1.93% of the company’s stock.

ePlus Stock Up 0.1%

Shares of PLUS stock opened at $89.10 on Tuesday. The company has a 50 day moving average price of $84.22 and a 200-day moving average price of $83.04. ePlus inc. has a 52 week low of $62.11 and a 52 week high of $93.98. The firm has a market capitalization of $2.49 billion, a PE ratio of 18.41, a P/E/G ratio of 1.19 and a beta of 1.02.

ePlus (NASDAQ:PLUS) last issued its quarterly earnings data on Thursday, May 28th. The software maker reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. ePlus had a net margin of 5.24% and a return on equity of 11.36%. The company had revenue of $581.63 million for the quarter, compared to the consensus estimate of $569.25 million. Analysts anticipate that ePlus inc. will post 4.66 earnings per share for the current year.

ePlus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 17th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, June 17th. This is a positive change from ePlus’s previous quarterly dividend of $0.25. ePlus’s payout ratio is currently 22.31%.

ePlus 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.