ePlus inc. (NASDAQ:PLUS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of ePlus inc. (NASDAQ:PLUS - Free Report) by 14.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,263 shares of the software maker's stock after selling 13,213 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.30% of ePlus worth $6,488,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PLUS. Exchange Traded Concepts LLC bought a new position in ePlus in the third quarter worth approximately $27,000. Advisors Asset Management Inc. bought a new position in shares of ePlus in the 3rd quarter worth $28,000. Operose Advisors LLC bought a new stake in ePlus during the third quarter valued at about $33,000. Point72 Middle East FZE bought a new stake in ePlus during the fourth quarter valued at about $35,000. Finally, Point72 Hong Kong Ltd grew its stake in ePlus by 862.6% in the second quarter. Point72 Hong Kong Ltd now owns 953 shares of the software maker's stock valued at $51,000 after purchasing an additional 854 shares during the last quarter. Hedge funds and other institutional investors own 93.80% of the company's stock.

Analyst Upgrades and Downgrades

PLUS has been the topic of several analyst reports. Sidoti lowered shares of ePlus from a "buy" rating to a "neutral" rating and set a $83.00 price target on the stock. in a report on Monday, January 8th. Stifel Nicolaus upped their target price on ePlus from $70.00 to $80.00 and gave the company a "hold" rating in a research report on Monday.

ePlus Stock Performance

Shares of PLUS stock traded up $0.09 on Friday, hitting $75.37. The company had a trading volume of 170,150 shares, compared to its average volume of 211,780. ePlus inc. has a twelve month low of $41.71 and a twelve month high of $83.57. The company has a quick ratio of 1.59, a current ratio of 1.93 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.03 billion, a P/E ratio of 15.90 and a beta of 1.18. The company has a 50-day moving average price of $78.34 and a 200-day moving average price of $72.92.

ePlus (NASDAQ:PLUS - Get Free Report) last posted its earnings results on Tuesday, February 6th. The software maker reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.22). The business had revenue of $509.06 million for the quarter, compared to analyst estimates of $598.25 million. ePlus had a net margin of 5.86% and a return on equity of 15.26%. As a group, equities research analysts predict that ePlus inc. will post 4.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John E. Callies sold 1,308 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $79.17, for a total transaction of $103,554.36. Following the sale, the director now owns 20,493 shares of the company's stock, valued at $1,622,430.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.41% of the stock is currently owned by corporate insiders.

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 in two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; and professional and managed services, including managed, professional, security solutions, cloud consulting and hosting, staff augmentation, storage-as-a-service, server and desktop support, and project management services.