Allspring Global Investments Holdings LLC Reduces Position in ePlus inc. (NASDAQ:PLUS)

Allspring Global Investments Holdings LLC decreased its holdings in ePlus inc. (NASDAQ:PLUS) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,635 shares of the software maker’s stock after selling 7,439 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.34% of ePlus worth $6,678,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new position in shares of ePlus in the 4th quarter valued at approximately $40,000. CWM LLC boosted its stake in ePlus by 1,247.7% during the 2nd quarter. CWM LLC now owns 593 shares of the software maker’s stock valued at $44,000 after acquiring an additional 549 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in ePlus during the 1st quarter worth $58,000. EntryPoint Capital LLC grew its holdings in ePlus by 1,236.7% during the 1st quarter. EntryPoint Capital LLC now owns 1,056 shares of the software maker’s stock worth $83,000 after acquiring an additional 977 shares in the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of ePlus in the 1st quarter worth about $202,000. Hedge funds and other institutional investors own 93.80% of the company’s stock.

Insider Activity at ePlus

In other ePlus news, CFO Elaine D. Marion sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $73.45, for a total value of $367,250.00. Following the sale, the chief financial officer now directly owns 53,996 shares of the company’s stock, valued at $3,966,006.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLUS. StockNews.com downgraded ePlus from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Stifel Nicolaus boosted their price target on ePlus from $80.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, May 23rd.

ePlus Trading Up 1.2 %

NASDAQ PLUS opened at $95.96 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.73 and a current ratio of 1.94. ePlus inc. has a one year low of $53.53 and a one year high of $96.81. The company has a 50-day simple moving average of $83.88 and a 200-day simple moving average of $79.84. The firm has a market capitalization of $2.59 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.31 and a beta of 1.09.

ePlus (NASDAQ:PLUS) last issued its earnings results on Tuesday, August 6th. The software maker reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.03). The business had revenue of $544.54 million during the quarter, compared to the consensus estimate of $555.23 million. ePlus had a return on equity of 13.47% and a net margin of 5.20%. On average, equities analysts forecast that ePlus inc. will post 4.76 earnings per share for the current year.

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 in two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; and professional and managed services, including managed, professional, security solutions, cloud consulting and hosting, staff augmentation, storage-as-a-service, server and desktop support, and project management services.