ePlus inc. (NASDAQ:PLUS) Position Cut by Assetmark Inc.

Key Points

• Assetmark Inc. reduced its stake in ePlus Inc. by 19.1%, owning 16,922 shares valued at approximately $1.03 million as of its latest SEC filing.
• Significant increases in holdings were reported by other institutional investors, including JPMorgan Chase & Co., which raised its stake by 126.6% to own 124,251 shares valued at around $9.18 million.
• ePlus recently reported earnings of $0.95 per share, exceeding expectations, despite revenue of $498.11 million falling short of the forecasted $523.85 million.

Assetmark Inc. lowered its position in ePlus inc. (NASDAQ:PLUS - Free Report) by 19.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,922 shares of the software maker's stock after selling 3,992 shares during the quarter. Assetmark Inc. owned 0.06% of ePlus worth $1,033,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PLUS. Quarry LP grew its position in ePlus by 1,000.0% during the fourth quarter. Quarry LP now owns 473 shares of the software maker's stock valued at $35,000 after acquiring an additional 430 shares during the period. Versant Capital Management Inc grew its position in ePlus by 377.9% during the first quarter. Versant Capital Management Inc now owns 712 shares of the software maker's stock valued at $43,000 after acquiring an additional 563 shares during the period. Johnson Financial Group Inc. purchased a new stake in ePlus during the fourth quarter valued at about $60,000. GAMMA Investing LLC grew its position in ePlus by 625.5% during the first quarter. GAMMA Investing LLC now owns 1,023 shares of the software maker's stock valued at $62,000 after acquiring an additional 882 shares during the period. Finally, Huntington National Bank grew its position in ePlus by 35.8% during the fourth quarter. Huntington National Bank now owns 1,168 shares of the software maker's stock valued at $86,000 after acquiring an additional 308 shares during the period. 93.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

ePlus Stock Down 3.9%

Shares of NASDAQ PLUS traded down $2.50 on Friday, hitting $62.28. The company had a trading volume of 146,888 shares, compared to its average volume of 135,753. The firm has a market capitalization of $1.65 billion, a P/E ratio of 15.38, a PEG ratio of 1.57 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 quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $70.15 and a two-hundred day moving average of $67.71.

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

ePlus 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.