Bank of New York Mellon Corp Raises Position in ePlus inc. (NASDAQ:PLUS)

Bank of New York Mellon Corp raised its holdings in ePlus inc. (NASDAQ:PLUS) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 266,297 shares of the software maker’s stock after buying an additional 5,415 shares during the period. Bank of New York Mellon Corp owned approximately 0.99% of ePlus worth $14,993,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors Inc. lifted its position in shares of ePlus by 2.2% during the 4th quarter. Laurel Wealth Advisors Inc. now owns 10,137 shares of the software maker’s stock worth $449,000 after purchasing an additional 216 shares during the last quarter. Zions Bancorporation N.A. lifted its position in shares of ePlus by 0.9% during the 2nd quarter. Zions Bancorporation N.A. now owns 25,892 shares of the software maker’s stock worth $1,458,000 after purchasing an additional 231 shares during the last quarter. Zebra Capital Management LLC lifted its position in shares of ePlus by 2.1% during the 1st quarter. Zebra Capital Management LLC now owns 11,302 shares of the software maker’s stock worth $634,000 after purchasing an additional 233 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ePlus by 2.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,669 shares of the software maker’s stock worth $572,000 after purchasing an additional 329 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of ePlus by 0.9% during the 1st quarter. AQR Capital Management LLC now owns 37,213 shares of the software maker’s stock worth $1,825,000 after purchasing an additional 337 shares during the last quarter. 92.94% of the stock is owned by hedge funds and other institutional investors.

ePlus Price Performance

Shares of NASDAQ:PLUS opened at $63.08 on Wednesday. The company’s fifty day moving average price is $63.65 and its 200 day moving average price is $58.38. ePlus inc. has a 12 month low of $41.71 and a 12 month high of $75.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.81 and a quick ratio of 1.50. The firm has a market capitalization of $1.70 billion, a P/E ratio of 12.47 and a beta of 1.22.

Analyst Upgrades and Downgrades

PLUS has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on shares of ePlus from $55.00 to $65.00 in a research note on Tuesday, August 8th. StockNews.com initiated coverage on shares of ePlus in a research note on Thursday, October 5th. They set a “hold” rating on the stock.

Insider Buying and Selling

In related news, Director Eric D. Hovde sold 7,600 shares of ePlus stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $66.73, for a total transaction of $507,148.00. Following the sale, the director now directly owns 36,103 shares in the company, valued at approximately $2,409,153.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other ePlus news, Director Eric D. Hovde sold 7,600 shares of ePlus stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $66.73, for a total value of $507,148.00. Following the transaction, the director now directly owns 36,103 shares in the company, valued at $2,409,153.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric D. Hovde sold 5,000 shares of ePlus stock in a transaction on Monday, August 28th. The shares were sold at an average price of $64.47, for a total transaction of $322,350.00. Following the completion of the transaction, the director now owns 51,203 shares in the company, valued at $3,301,057.41. The disclosure for this sale can be found here. Insiders have sold 19,096 shares of company stock worth $1,264,470 in the last ninety days. 2.41% of the stock is owned by corporate insiders.

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 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.