BidaskClub Downgrades ePlus (NASDAQ:PLUS) to Buy

BidaskClub lowered shares of ePlus (NASDAQ:PLUS) from a strong-buy rating to a buy rating in a research note published on Friday, BidAskClub reports.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research upgraded ePlus from a sell rating to a hold rating in a report on Thursday, September 12th. Sidoti upgraded ePlus from a neutral rating to a buy rating in a report on Monday, July 1st. Berenberg Bank reiterated a hold rating and set a $83.00 price target on shares of ePlus in a report on Tuesday, August 13th. Finally, ValuEngine upgraded ePlus from a strong sell rating to a sell rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. ePlus currently has an average rating of Hold and a consensus price target of $85.67.

ePlus stock opened at $80.08 on Friday. ePlus has a 52 week low of $65.52 and a 52 week high of $102.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.39 and a current ratio of 1.54. The stock has a market capitalization of $1.10 billion, a P/E ratio of 17.22 and a beta of 1.30. The stock has a 50-day simple moving average of $79.33 and a 200 day simple moving average of $81.58.

ePlus (NASDAQ:PLUS) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. ePlus had a return on equity of 16.10% and a net margin of 4.59%. The business had revenue of $381.37 million during the quarter, compared to analysts’ expectations of $355.15 million. Research analysts forecast that ePlus will post 4.18 earnings per share for the current year.

In related news, Director Lawrence S. Herman sold 600 shares of ePlus stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $75.60, for a total transaction of $45,360.00. Following the completion of the transaction, the director now owns 9,549 shares in the company, valued at $721,904.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.59% of the company’s stock.

A number of hedge funds have recently modified their holdings of PLUS. Tower Research Capital LLC TRC lifted its position in ePlus by 357.8% during the second quarter. Tower Research Capital LLC TRC now owns 760 shares of the software maker’s stock worth $52,000 after acquiring an additional 594 shares during the last quarter. US Bancorp DE lifted its position in ePlus by 33.2% during the second quarter. US Bancorp DE now owns 754 shares of the software maker’s stock worth $52,000 after acquiring an additional 188 shares during the last quarter. Bank of Montreal Can lifted its position in ePlus by 167.9% during the second quarter. Bank of Montreal Can now owns 1,784 shares of the software maker’s stock worth $122,000 after acquiring an additional 1,118 shares during the last quarter. Zions Bancorporation N.A. lifted its position in ePlus by 7.0% during the second quarter. Zions Bancorporation N.A. now owns 2,308 shares of the software maker’s stock worth $159,000 after acquiring an additional 150 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in ePlus during the first quarter worth approximately $202,000. Hedge funds and other institutional investors own 90.08% of the company’s stock.

ePlus Company Profile

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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