Bank of New York Mellon Corp Sells 6,861 Shares of ePlus inc. (NASDAQ:PLUS)

Bank of New York Mellon Corp decreased its position in ePlus inc. (NASDAQ:PLUS) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 176,904 shares of the software maker’s stock after selling 6,861 shares during the period. Bank of New York Mellon Corp owned 0.66% of ePlus worth $13,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund grew its position in shares of ePlus by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 93,711 shares of the software maker’s stock worth $6,923,000 after buying an additional 600 shares during the last quarter. Principal Financial Group Inc. boosted its stake in ePlus by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 137,452 shares of the software maker’s stock valued at $10,155,000 after acquiring an additional 4,425 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in ePlus by 26.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 26,395 shares of the software maker’s stock worth $1,950,000 after purchasing an additional 5,517 shares during the last quarter. Vista Finance LLC acquired a new position in shares of ePlus during the fourth quarter worth $316,000. Finally, Rhumbline Advisers lifted its holdings in shares of ePlus by 0.9% during the 4th quarter. Rhumbline Advisers now owns 75,215 shares of the software maker’s stock valued at $5,557,000 after purchasing an additional 664 shares during the last quarter. Institutional investors own 93.80% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of ePlus from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

ePlus Trading Down 2.5 %

Shares of ePlus stock opened at $63.32 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.69 and a current ratio of 1.83. ePlus inc. has a fifty-two week low of $61.91 and a fifty-two week high of $106.98. The firm has a 50-day simple moving average of $72.78 and a two-hundred day simple moving average of $83.22. The company has a market cap of $1.69 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.83 and a beta of 1.15.

ePlus (NASDAQ:PLUS) last issued its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.37). ePlus had a net margin of 4.93% and a return on equity of 11.23%. As a group, equities analysts predict that ePlus inc. will post 3.78 earnings per share for the current fiscal year.

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 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.