Allspring Global Investments Holdings LLC Decreases Stock Position in ePlus inc. (NASDAQ:PLUS)

Allspring Global Investments Holdings LLC cut its stake in ePlus inc. (NASDAQ:PLUS) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,263 shares of the software maker’s stock after selling 13,213 shares during the period. Allspring Global Investments Holdings LLC owned 0.30% of ePlus worth $6,488,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PLUS. Morgan Stanley raised its holdings in ePlus by 348.0% in the fourth quarter. Morgan Stanley now owns 799,247 shares of the software maker’s stock valued at $35,391,000 after acquiring an additional 620,838 shares in the last quarter. Capital Research Global Investors acquired a new stake in ePlus in the first quarter valued at $17,087,000. FMR LLC raised its holdings in ePlus by 4,840.2% in the third quarter. FMR LLC now owns 286,975 shares of the software maker’s stock valued at $18,229,000 after acquiring an additional 281,166 shares in the last quarter. Wells Fargo & Company MN raised its holdings in ePlus by 517.3% in the second quarter. Wells Fargo & Company MN now owns 248,764 shares of the software maker’s stock valued at $13,214,000 after acquiring an additional 208,463 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in ePlus by 48.6% in the first quarter. Wellington Management Group LLP now owns 531,664 shares of the software maker’s stock valued at $29,805,000 after acquiring an additional 173,891 shares in the last quarter. 93.80% of the stock is owned by institutional investors and hedge funds.

ePlus Stock Down 0.2 %

Shares of NASDAQ:PLUS opened at $75.28 on Friday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 15.88 and a beta of 1.18. ePlus inc. has a 1-year low of $41.71 and a 1-year high of $83.57. The company’s fifty day moving average is $78.34 and its two-hundred day moving average is $72.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.59 and a current ratio of 1.93.

ePlus (NASDAQ:PLUS) last issued its earnings results on Tuesday, February 6th. The software maker reported $1.02 earnings per share 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 return on equity of 15.26% and a net margin of 5.86%. Equities analysts anticipate that ePlus inc. will post 4.59 EPS for the current year.

Insiders Place Their Bets

In related 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 value of $103,554.36. Following the sale, the director now owns 20,493 shares of the company’s stock, valued at approximately $1,622,430.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PLUS shares. Stifel Nicolaus upped their price target on shares of ePlus from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday. Sidoti cut 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.

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.