ePlus Announces 1M Share Repurchase Program – Buyback Wednesdays

ePlus inc. (PLUS), an IT services and financing company, announced a 1 million share buyback on April 5, 2023, over a 12-month period commencing May 28, 2023. This represents around 4% of its market cap at announcement. The company was formerly known as MLC Holdings, Inc. and changed its name to ePlus, inc. in 1999.

The company has three operating subsidiaries including:

• ePlus Group, Inc., its leasing and business process outsourcing company (the Financing Business Unit)
• ePlus Technology, Inc., its IT sales and services company
• ePlus Systems, Inc., its software company

Source: eplus – Investor Presentation

The technology segment offers consulting, with expertise in cloud, cyber security and infrastructure. Its clients include IT companies like Cisco Systems, Inc. (CSCO), Adobe Inc. (ADBE) and NetApp, Inc. (NTAP). It also serves various other industries like healthcare, education, government, and finance. The financing segment specializes in leasing and financing arrangements and underwriting and management of IT equipment and assets. This segment mostly serves government and government-oriented entities.

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