Jupiter Topco LLC Invests $975,000 in ePlus inc. $PLUS

Jupiter Topco LLC purchased a new position in ePlus inc. (NASDAQ:PLUS) during the second quarter, Holdings Channel reports. The fund purchased 11,708 shares of the software maker’s stock, valued at approximately $975,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi grew its position in ePlus by 333.0% during the first quarter. Amundi now owns 5,361 shares of the software maker’s stock valued at $313,000 after buying an additional 4,123 shares during the period. AQR Capital Management LLC raised its position in ePlus by 20.4% in the first quarter. AQR Capital Management LLC now owns 45,612 shares of the software maker’s stock worth $2,784,000 after acquiring an additional 7,742 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in ePlus by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,666 shares of the software maker’s stock worth $956,000 after acquiring an additional 687 shares during the period. Millennium Management LLC boosted its stake in ePlus by 103.1% in the first quarter. Millennium Management LLC now owns 226,399 shares of the software maker’s stock valued at $13,817,000 after acquiring an additional 114,900 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in ePlus by 628.3% in the first quarter. Jones Financial Companies Lllp now owns 3,066 shares of the software maker’s stock valued at $187,000 after acquiring an additional 2,645 shares during the last quarter. 93.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John Callies sold 500 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $88.09, for a total value of $44,045.00. Following the transaction, the director owned 20,648 shares of the company’s stock, valued at approximately $1,818,882.32. This represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $182,006.10. Following the completion of the sale, the chief operating officer owned 69,236 shares in the company, valued at $6,512,338.16. This trade represents a 2.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,700 shares of company stock worth $1,301,128 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLUS. Weiss Ratings restated a “hold (c+)” rating on shares of ePlus in a research note 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 currently has an average rating of “Hold”.

ePlus Trading Up 1.4%

Shares of ePlus stock opened at $92.10 on Friday. The company’s 50-day moving average price is $88.04 and its 200-day moving average price is $83.67. ePlus inc. has a 12-month low of $69.25 and a 12-month high of $98.14. The company 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.

ePlus (NASDAQ:PLUS) last issued its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.28 EPS for the quarter, beating the consensus estimate of $1.19 by $0.09. The company had revenue of $649.11 million during the quarter, compared to analysts’ expectations of $639.95 million. ePlus had a net margin of 4.91% and a return on equity of 11.51%. On average, sell-side analysts predict that ePlus inc. will post 4.86 earnings per share for the current year.

ePlus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 25th. ePlus’s payout ratio is 23.63%.

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.