Zacks Investment Research Upgrades ePlus inc. (PLUS) to “Hold”
Zacks Investment Research upgraded shares of ePlus inc. (NASDAQ:PLUS) from a strong sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “ePlus Inc. serves as the parent holding company for ePlus Group, Inc., ePlus Technology of NC, Inc., ePlus Technology of PA, Inc., ePlus Technology, Inc., ePlus Government, Inc., ePlus Capital, Inc., ePlus Systems, Inc., ePlus Content Services, Inc and MLC Leasing, S.A. de C.V. “
Separately, ValuEngine upgraded ePlus inc. from a hold rating to a buy rating in a research report on Tuesday, June 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. ePlus inc. currently has a consensus rating of Hold and an average price target of $24.31.
ePlus inc. (NASDAQ:PLUS) opened at 81.20 on Wednesday. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 22.56 and a beta of 1.40. The firm has a 50-day moving average price of $76.32 and a 200-day moving average price of $94.00. ePlus inc. has a one year low of $63.76 and a one year high of $141.00.
In other ePlus inc. news, Director Eric D. Hovde sold 3,389 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $80.30, for a total transaction of $272,136.70. Following the sale, the director now directly owns 68,703 shares in the company, valued at $5,516,850.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Phillip G. Norton sold 20,880 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $79.04, for a total value of $1,650,355.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,103 shares of company stock worth $5,136,851. 8.20% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Elkfork Partners LLC increased its stake in shares of ePlus inc. by 160.0% in the first quarter. Elkfork Partners LLC now owns 884 shares of the software maker’s stock valued at $119,000 after buying an additional 544 shares in the last quarter. Palo Capital Inc. bought a new stake in shares of ePlus inc. during the first quarter valued at about $203,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of ePlus inc. during the second quarter valued at about $111,000. Mason Street Advisors LLC increased its stake in shares of ePlus inc. by 7.0% in the first quarter. Mason Street Advisors LLC now owns 1,540 shares of the software maker’s stock valued at $208,000 after buying an additional 101 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of ePlus inc. by 74.2% in the second quarter. Bank of Montreal Can now owns 1,606 shares of the software maker’s stock valued at $119,000 after buying an additional 684 shares in the last quarter. Institutional investors and hedge funds own 48.11% of the company’s stock.
ePlus inc. Company Profile
ePlus inc. is a holding company. The Company is engaged in the business of selling, leasing, financing and managing information technology. It operates through two segments: technology and financing. The technology segment sells information technology (IT) hardware products, third-party software and maintenance contracts, its own and third-party professional and managed services, and its software.
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