London Co. of Virginia Sells 7,516 Shares of ePlus inc. $PLUS

London Co. of Virginia reduced its position in shares of ePlus inc. (NASDAQ:PLUS) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,005 shares of the software maker’s stock after selling 7,516 shares during the period. London Co. of Virginia owned approximately 1.02% of ePlus worth $20,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLUS. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of ePlus by 592.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,871 shares of the software maker’s stock worth $818,000 after buying an additional 9,300 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of ePlus during the 1st quarter worth $474,000. Inceptionr LLC boosted its stake in ePlus by 5.9% in the first quarter. Inceptionr LLC now owns 3,419 shares of the software maker’s stock valued at $257,000 after buying an additional 190 shares in the last quarter. Sei Investments Co. boosted its stake in ePlus by 180.9% in the first quarter. Sei Investments Co. now owns 49,448 shares of the software maker’s stock valued at $3,722,000 after buying an additional 31,847 shares in the last quarter. Finally, State of Wyoming grew its position in ePlus by 55.3% in the first quarter. State of Wyoming now owns 5,517 shares of the software maker’s stock valued at $415,000 after acquiring an additional 1,965 shares during the last quarter. 93.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Zacks Research downgraded ePlus from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 17th. Wall Street Zen lowered shares of ePlus from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ePlus in a report on Friday, July 10th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ePlus has a consensus rating of “Reduce”.

Insider Transactions at ePlus

In other news, COO Darren S. Raiguel sold 1,000 shares of ePlus stock in a transaction on Monday, May 11th. The shares were sold at an average price of $89.95, for a total transaction of $89,950.00. Following the transaction, the chief operating officer owned 55,748 shares in the company, valued at approximately $5,014,532.60. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 1,289 shares of company stock valued at $115,757. 1.93% of the stock is owned by company insiders.

ePlus Stock Up 2.5%

NASDAQ PLUS opened at $89.02 on Friday. ePlus inc. has a twelve month low of $62.11 and a twelve month high of $93.98. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02. The business’s fifty day moving average is $84.09 and its 200 day moving average is $83.05.

ePlus (NASDAQ:PLUS) last issued its earnings results on Thursday, May 28th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $581.63 million during the quarter, compared to analysts’ expectations of $569.25 million. ePlus had a return on equity of 11.36% and a net margin of 5.24%. On average, research analysts anticipate that ePlus inc. will post 4.66 earnings per share for the current fiscal year.

ePlus Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Wednesday, June 17th were issued a $0.27 dividend. This is a boost from ePlus’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, June 17th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. ePlus’s dividend payout ratio (DPR) is 22.31%.

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.