ePlus (NASDAQ:PLUS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “ePlus inc. is a leading provider of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, professional services, flexible lease financing, proprietary software, and patented business methods. With the highest certifications from top technology partners and expertise in key technologies from data center to security, cloud, and collaboration, ePlus transforms IT from a cost center to a business enabler. “
A number of other brokerages have also weighed in on PLUS. Stifel Nicolaus reaffirmed a “hold” rating and issued a $95.00 price target on shares of ePlus in a research note on Monday, July 23rd. BidaskClub cut shares of ePlus from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. Finally, ValuEngine downgraded ePlus from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. ePlus currently has a consensus rating of “Hold” and an average price target of $107.00.
PLUS stock opened at $102.55 on Thursday. The firm has a market capitalization of $1.42 billion, a PE ratio of 24.30 and a beta of 1.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.65 and a quick ratio of 1.50. ePlus has a 1-year low of $67.65 and a 1-year high of $107.25.
ePlus (NASDAQ:PLUS) last issued its quarterly earnings results on Wednesday, August 8th. The software maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The firm had revenue of $356.53 million for the quarter, compared to the consensus estimate of $346.55 million. ePlus had a return on equity of 16.05% and a net margin of 4.07%. research analysts anticipate that ePlus will post 5.29 EPS for the current fiscal year.
In other news, Director Eric D. Hovde sold 500 shares of the firm’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $93.50, for a total transaction of $46,750.00. Following the completion of the sale, the director now directly owns 51,648 shares of the company’s stock, valued at approximately $4,829,088. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eric D. Hovde sold 7,500 shares of ePlus stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $101.87, for a total value of $764,025.00. Following the completion of the sale, the director now directly owns 29,019 shares of the company’s stock, valued at approximately $2,956,165.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,774 shares of company stock worth $2,087,273. 2.72% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PLUS. Acadian Asset Management LLC bought a new stake in shares of ePlus during the 2nd quarter valued at about $123,000. Itau Unibanco Holding S.A. purchased a new position in ePlus in the 2nd quarter worth approximately $161,000. SG Americas Securities LLC purchased a new position in shares of ePlus during the first quarter valued at approximately $171,000. Amalgamated Bank purchased a new position in shares of ePlus during the second quarter valued at approximately $209,000. Finally, MAI Capital Management purchased a new position in shares of ePlus during the second quarter valued at approximately $210,000. Institutional investors and hedge funds own 91.92% of the company’s stock.
ePlus inc., through its subsidiaries, provides information technology solutions that enable organizations to optimize their information technology (IT) environment and supply chain processes in the United States. It operates in two segments, Technology and Financing. The Technology segment offers hardware, software, maintenance, software assurance, and internally-provided and outsourced services; and advanced professional and managed services, including ePlus managed, professional, security, staff augmentation, server and desktop support, and project management services.
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