Allspring Global Investments Holdings LLC Sells 13,213 Shares of ePlus inc. (NASDAQ:PLUS)

Allspring Global Investments Holdings LLC lessened its holdings in shares of ePlus inc. (NASDAQ:PLUS) by 14.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 81,263 shares of the software maker’s stock after selling 13,213 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ePlus were worth $6,488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new position in ePlus during the third quarter valued at approximately $27,000. Advisors Asset Management Inc. bought a new position in ePlus during the third quarter valued at approximately $28,000. Operose Advisors LLC bought a new position in ePlus during the third quarter valued at approximately $33,000. Point72 Middle East FZE bought a new position in ePlus during the fourth quarter valued at approximately $35,000. Finally, Point72 Hong Kong Ltd raised its position in ePlus by 862.6% during the second quarter. Point72 Hong Kong Ltd now owns 953 shares of the software maker’s stock valued at $51,000 after acquiring an additional 854 shares in the last quarter. Institutional investors own 93.80% of the company’s stock.

Analyst Upgrades and Downgrades

PLUS has been the topic of several analyst reports. Sidoti downgraded 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 increased their price target on ePlus from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday.

ePlus Trading Down 0.2 %

Shares of PLUS stock opened at $75.28 on Friday. ePlus inc. has a 12 month low of $41.71 and a 12 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 business’s 50 day moving average is $78.34 and its two-hundred day moving average is $72.85. The company has a market cap of $2.03 billion, a PE ratio of 15.88 and a beta of 1.18.

ePlus (NASDAQ:PLUS) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.22). The company had revenue of $509.06 million during 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 predict that ePlus inc. will post 4.59 EPS for the current year.

Insider Transactions at ePlus

In other news, Director John E. Callies sold 1,308 shares of the firm’s stock in a transaction on 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 in the company, valued at $1,622,430.81. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.41% of the stock is currently owned by corporate insiders.

ePlus 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.