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

Allspring Global Investments Holdings LLC lowered its holdings in ePlus inc. (NASDAQ:PLUS - Free Report) by 33.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,789 shares of the software maker's stock after selling 30,037 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.23% of ePlus worth $3,726,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new stake in shares of ePlus in the 1st quarter valued at about $968,000. Vista Finance LLC raised its position in ePlus by 7.8% in the 1st quarter. Vista Finance LLC now owns 4,606 shares of the software maker's stock worth $281,000 after purchasing an additional 333 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of ePlus by 39.0% in the first quarter. Handelsbanken Fonder AB now owns 7,844 shares of the software maker's stock worth $479,000 after buying an additional 2,200 shares during the period. GAMMA Investing LLC lifted its position in ePlus by 625.5% in the first quarter. GAMMA Investing LLC now owns 1,023 shares of the software maker's stock valued at $62,000 after purchasing an additional 882 shares during the last quarter. Finally, Bridge City Capital LLC grew its holdings in ePlus by 30.1% in the 1st quarter. Bridge City Capital LLC now owns 47,182 shares of the software maker's stock worth $2,880,000 after acquiring an additional 10,910 shares during the last quarter. 93.80% of the stock is currently owned by hedge funds and other institutional investors.

ePlus Stock Up 1.7%

ePlus stock traded up $1.21 during mid-day trading on Wednesday, hitting $71.58. The company had a trading volume of 146,874 shares, compared to its average volume of 221,249. The stock's 50 day moving average price is $69.10 and its two-hundred day moving average price is $68.60. The company has a market capitalization of $1.90 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.77 and a beta of 1.14. ePlus inc. has a 12 month low of $53.83 and a 12 month high of $106.98. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 0.01.

ePlus (NASDAQ:PLUS - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. ePlus had a return on equity of 11.34% and a net margin of 5.22%. The company had revenue of $498.11 million during the quarter, compared to analyst estimates of $523.85 million. As a group, sell-side analysts anticipate that ePlus inc. will post 3.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded ePlus from a "buy" rating to a "hold" rating in a report on Friday, June 27th.

ePlus Company Profile

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.