Bank of New York Mellon Corp Buys 4,649 Shares of ePlus inc. $PLUS

Bank of New York Mellon Corp boosted its position in shares of ePlus inc. (NASDAQ:PLUS) by 2.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,208 shares of the software maker’s stock after buying an additional 4,649 shares during the period. Bank of New York Mellon Corp owned approximately 0.66% of ePlus worth $12,560,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Bank of Montreal Can boosted its holdings in shares of ePlus by 6.2% during the 2nd quarter. Bank of Montreal Can now owns 4,693 shares of the software maker’s stock valued at $338,000 after acquiring an additional 274 shares in the last quarter. Versor Investments LP bought a new stake in ePlus during the second quarter valued at $549,000. Geneva Capital Management LLC grew its stake in ePlus by 5.9% during the second quarter. Geneva Capital Management LLC now owns 921,854 shares of the software maker’s stock worth $66,466,000 after purchasing an additional 50,964 shares during the period. Atria Investments Inc acquired a new stake in shares of ePlus during the 2nd quarter worth approximately $218,000. Finally, Assetmark Inc. grew its holdings in ePlus by 22.6% in the second quarter. Assetmark Inc. now owns 20,752 shares of the software maker’s stock worth $1,496,000 after purchasing an additional 3,830 shares during the period. Institutional investors and hedge funds own 93.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Zacks Research upgraded ePlus from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. Wall Street Zen raised shares of ePlus from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of ePlus in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, ePlus has a consensus rating of “Hold”.

ePlus Price Performance

Shares of ePlus stock opened at $88.25 on Wednesday. The firm has a market cap of $2.33 billion, a PE ratio of 19.79, a P/E/G ratio of 2.18 and a beta of 1.14. ePlus inc. has a 1 year low of $53.83 and a 1 year high of $92.66. The stock has a fifty day moving average price of $75.53 and a 200-day moving average price of $71.63.

ePlus (NASDAQ:PLUS) last announced its quarterly earnings data on Thursday, November 6th. The software maker reported $1.53 EPS for the quarter, topping the consensus estimate of $0.95 by $0.58. ePlus had a net margin of 5.47% and a return on equity of 11.03%. The business had revenue of $608.83 million for the quarter, compared to analyst estimates of $518.30 million. As a group, equities analysts anticipate that ePlus inc. will post 3.78 EPS for the current fiscal year.

ePlus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 25th. ePlus’s payout ratio is presently 21.69%.

About ePlus

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.