FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * HOVDE ERIC D   2. Issuer Name and Ticker or Trading Symbol EPLUS INC [PLUS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 122 W. WASHINGTON AVENUE, SUITE 350 3. Date of Earliest Transaction (Month/Day/Year) 11/16/2016 (Street) MADISON, WI 53703 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 11/16/2016   S(1)   7,500 D $ 103.79 (2) 116,122 D   Common Stock 11/16/2016   S(3)   2,673 D $ 103.79 (2) 44,045 I Footnote (4) Common Stock 11/17/2016   S(5)   7,500 D $ 105.12 (2) 108,622 D   Common Stock 11/18/2016   S(6)   12,500 D $ 106.26 (2) 96,122 D   Common Stock 11/18/2016   S(7)   4,045 D $ 106.26 (2) 40,000 I Footnote (8)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
HOVDE ERIC D 122 W. WASHINGTON AVENUE SUITE 350 MADISON, WI 53703	X

Signatures

Eric D. Hovde		11/18/2016
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On November 16, 2016, Mr. Hovde, the reporting person, sold 7,500 shares of the common stock of ePlus Inc (the "Shares") at prices ranging from $103.00 to $104.05.
(2)	Mr. Hovde, the reporting person, undertakes to provide upon request by the Securities and Exchange Commission staff, ePlus, or a security holder of ePlus, full information regarding the number of Shares sold at each separate price.
(3)	Mr. Hovde is the managing member of Hovde Capital, Ltd., the general partner to Financial Institution Partners III, L.P. ("FIP III"). On November 16, 2016, FIP III sold 2,673 shares of the common stock of ePlus Inc (the "Shares") at prices ranging from $103.00 to $104.05.
(4)	Mr. Hovde is the managing member Hovde Capital, Ltd., the general partner to FIP III, which, after the transaction reported on this line, owns 30,000 Shares. Mr. Hovde is a trustee of The Eric D. and Steven D. Hovde Foundation, which owns 14,045 Shares.
(5)	On November 17, 2016, Mr. Hovde, the reporting person, sold 7,500 shares of the common stock of ePlus Inc (the "Shares") at prices ranging from $103.45 to $105.60.
(6)	On November 18, 2016, Mr. Hovde, the reporting person, sold 12,500 shares of the common stock of ePlus Inc (the "Shares") at prices ranging from $105.58 to $106.65.
(7)	On November 18, 2016, The Eric D. and Steven D. Hovde Foundation sold 4,045 shares of the common stock of ePlus Inc (the "Shares") at prices ranging from $105.58 to $106.65.
(8)	Mr. Hovde is the managing member Hovde Capital, Ltd., the general partner to FIP III, which owns 30,000 Shares. Mr. Hovde is a trustee of The Eric D. and Steven D. Hovde Foundation, which, after the transaction reported on this line owns 10,000 Shares.

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