Allspring Global Investments Holdings LLC Has $3.73 Million Position in ePlus inc. (NASDAQ:PLUS)

Allspring Global Investments Holdings LLC cut its stake in ePlus inc. (NASDAQ:PLUS) by 33.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,789 shares of the software maker’s stock after selling 30,037 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.23% of ePlus worth $3,726,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLUS. Smartleaf Asset Management LLC raised its holdings in shares of ePlus by 91.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 342 shares of the software maker’s stock worth $25,000 after buying an additional 163 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of ePlus by 256.8% during the 4th quarter. Jones Financial Companies Lllp now owns 421 shares of the software maker’s stock worth $31,000 after buying an additional 303 shares in the last quarter. Assetmark Inc. raised its holdings in shares of ePlus by 10.4% during the 4th quarter. Assetmark Inc. now owns 20,914 shares of the software maker’s stock worth $1,545,000 after buying an additional 1,971 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of ePlus during the 4th quarter worth $8,683,000. Finally, HighTower Advisors LLC raised its holdings in shares of ePlus by 21.3% during the 4th quarter. HighTower Advisors LLC now owns 2,816 shares of the software maker’s stock worth $208,000 after buying an additional 495 shares in the last quarter. 93.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut ePlus from a “buy” rating to a “hold” rating in a report on Friday, June 27th.

ePlus Trading Up 1.0%

Shares of PLUS stock opened at $72.46 on Monday. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.83 and a beta of 1.14. The stock has a 50-day moving average of $68.79 and a 200-day moving average of $68.61. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 0.01. ePlus inc. has a 1-year low of $53.83 and a 1-year high of $106.98.

ePlus (NASDAQ:PLUS) last announced its earnings results on Thursday, May 22nd. The software maker reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. The company had revenue of $498.11 million for the quarter, compared to analyst estimates of $523.85 million. ePlus had a return on equity of 11.34% and a net margin of 5.22%. On average, equities research analysts forecast that ePlus inc. will post 3.78 earnings per share for the current year.

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 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.