Pacer Advisors Inc. Sells 1,051,789 Shares of ePlus inc. (NASDAQ:PLUS)

Key Points

• Pacer Advisors Inc. sold 1,051,789 shares of ePlus inc., reducing its stake by 79.1% and now owns 278,043 shares valued at approximately $16.97 million.
• Other institutional investors have also increased their positions, with Quarry LP raising its stake by 1,000.0% and GAMMA Investing LLC increasing theirs by 625.5% in recent quarters.
• ePlus reported an EPS of $0.95 for the last quarter, exceeding expectations, and currently has a market cap of $1.78 billion with analysts anticipating 3.78 EPS for the fiscal year.

Pacer Advisors Inc. cut its stake in shares of ePlus inc. (NASDAQ:PLUS - Free Report) by 79.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 278,043 shares of the software maker's stock after selling 1,051,789 shares during the period. Pacer Advisors Inc. owned approximately 1.04% of ePlus worth $16,969,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Castlekeep Investment Advisors LLC acquired a new position in ePlus in the fourth quarter valued at about $127,898,000. Mirabella Financial Services LLP acquired a new position in ePlus in the fourth quarter valued at about $43,517,000. Northern Trust Corp grew its stake in ePlus by 8.2% in the fourth quarter. Northern Trust Corp now owns 496,648 shares of the software maker's stock valued at $36,692,000 after acquiring an additional 37,496 shares during the period. Price T Rowe Associates Inc. MD grew its stake in ePlus by 20.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 226,724 shares of the software maker's stock valued at $16,751,000 after acquiring an additional 38,317 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in ePlus in the fourth quarter valued at about $15,590,000. 93.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ePlus Trading Down 0.7%

NASDAQ:PLUS traded down $0.49 on Wednesday, reaching $68.10. The company's stock had a trading volume of 5,956 shares, compared to its average volume of 204,346. ePlus inc. has a 1-year low of $53.83 and a 1-year high of $106.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.56 and a current ratio of 1.71. The firm has a market cap of $1.81 billion, a PE ratio of 16.81, a PEG ratio of 1.71 and a beta of 1.14. The business's 50-day moving average price is $70.22 and its two-hundred day moving average price is $67.99.

ePlus (NASDAQ:PLUS - Get Free Report) last posted 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. ePlus had a return on equity of 11.34% and a net margin of 5.22%. The firm had revenue of $498.11 million during the quarter, compared to analysts' expectations of $523.85 million. Equities research analysts anticipate that ePlus inc. will post 3.78 earnings per share for the current fiscal year.

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.