Royce & Associates LP Has $6.54 Million Stock Holdings in ePlus inc. (NASDAQ:PLUS)

Key Points

• Royce & Associates LP reduced its stake in ePlus Inc. by 8.4%, holding approximately 107,092 shares worth $6.54 million at the end of the recent quarter.
• Multiple hedge funds have adjusted their ePlus holdings, with Castlekeep Investment Advisors LLC acquiring a new position valued at $127.9 million in the fourth quarter.
• Analysts at Wall Street Zen downgraded ePlus from a "buy" rating to a "hold" rating as of June 27, indicating a shift in market sentiment around the stock.

Royce & Associates LP cut its stake in shares of ePlus inc. (NASDAQ:PLUS - Free Report) by 8.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,092 shares of the software maker's stock after selling 9,839 shares during the period. Royce & Associates LP owned about 0.40% of ePlus worth $6,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Castlekeep Investment Advisors LLC purchased a new position in ePlus during the fourth quarter valued at approximately $127,898,000. Mirabella Financial Services LLP bought a new stake in ePlus in the fourth quarter worth approximately $43,517,000. Northern Trust Corp grew its position in ePlus by 8.2% in the fourth quarter. Northern Trust Corp now owns 496,648 shares of the software maker's stock worth $36,692,000 after acquiring an additional 37,496 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position 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 worth $16,751,000 after acquiring an additional 38,317 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in ePlus in the fourth quarter worth approximately $15,590,000. 93.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

ePlus Stock Performance

Shares of ePlus stock traded down $0.25 on Wednesday, reaching $68.34. The stock had a trading volume of 4,218 shares, compared to its average volume of 204,342. The business's 50-day moving average price is $70.22 and its two-hundred day moving average price is $67.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.56 and a current ratio of 1.71. ePlus inc. has a fifty-two week low of $53.83 and a fifty-two week high of $106.98. The stock has a market cap of $1.81 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14.

ePlus (NASDAQ:PLUS - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.08. The business 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%. On average, sell-side analysts forecast that ePlus inc. will post 3.78 EPS for the current year.

About ePlus

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.