ePlus inc. (NASDAQ:PLUS) Shares Sold by Bank of New York Mellon Corp

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

Other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC grew its stake in ePlus by 21.3% during the 4th quarter. HighTower Advisors LLC now owns 2,816 shares of the software maker's stock valued at $208,000 after acquiring an additional 495 shares in the last quarter. Quantbot Technologies LP purchased a new stake in ePlus during the 4th quarter worth approximately $821,000. American Century Companies Inc. increased its stake in ePlus by 18.2% during the 4th quarter. American Century Companies Inc. now owns 790,332 shares of the software maker's stock worth $58,390,000 after buying an additional 121,945 shares during the period. AXQ Capital LP purchased a new stake in shares of ePlus in the 4th quarter valued at approximately $218,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of ePlus in the 4th quarter valued at approximately $384,000. 93.80% of the stock is currently owned by institutional investors and hedge funds.

ePlus Stock Down 2.4%

Shares of NASDAQ:PLUS opened at $66.77 on Tuesday. ePlus inc. has a 12 month low of $53.83 and a 12 month high of $106.98. The company's 50-day moving average price is $70.09 and its two-hundred day moving average price is $68.34. 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 firm has a market cap of $1.77 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.73 and a beta of 1.14.

ePlus (NASDAQ:PLUS - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $0.95 earnings per share for the quarter, topping the consensus estimate 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%. As a group, research analysts forecast that ePlus inc. will post 3.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.

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