Bank of New York Mellon Corp Sells 7,345 Shares of ePlus inc. (NASDAQ:PLUS)

Bank of New York Mellon Corp lessened its holdings in ePlus inc. (NASDAQ:PLUS - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,559 shares of the software maker's stock after selling 7,345 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.64% of ePlus worth $10,348,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PLUS. Castlekeep Investment Advisors LLC acquired a new stake in ePlus during the 4th quarter worth approximately $127,898,000. Mirabella Financial Services LLP acquired a new position in ePlus during the fourth quarter worth $43,517,000. Rockefeller Capital Management L.P. acquired a new position in shares of ePlus in the fourth quarter valued at $15,590,000. American Century Companies Inc. increased its holdings in shares of ePlus by 18.2% in the fourth quarter. American Century Companies Inc. now owns 790,332 shares of the software maker's stock valued at $58,390,000 after purchasing an additional 121,945 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of ePlus by 532.0% in the fourth quarter. BNP Paribas Financial Markets now owns 85,192 shares of the software maker's stock valued at $6,294,000 after purchasing an additional 71,712 shares during the last quarter. Institutional investors own 93.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

ePlus Stock Performance

Shares of NASDAQ:PLUS traded up $0.72 on Friday, hitting $67.12. The company had a trading volume of 84,884 shares, compared to its average volume of 195,688. ePlus inc. has a 1-year low of $53.83 and a 1-year high of $106.98. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.67 and a beta of 1.14. The stock has a 50 day moving average price of $70.15 and a 200 day moving average price of $68.16. 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 announced its earnings results on Thursday, May 22nd. The software maker reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.08. The company had revenue of $498.11 million during the quarter, compared to analysts' expectations of $523.85 million. ePlus had a net margin of 5.22% and a return on equity of 11.34%. Analysts expect that ePlus inc. will post 3.78 EPS for the current 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.