ePlus (NASDAQ:PLUS) Rating Lowered to Sell at Zacks Investment Research

ePlus (NASDAQ:PLUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

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 equities research analysts have also issued reports on PLUS. Sidoti upgraded shares of ePlus from a “neutral” rating to a “buy” rating in a report on Monday, July 1st. BidaskClub lowered shares of ePlus from a “strong-buy” rating to a “buy” rating in a report on Friday, September 13th. Berenberg Bank reiterated a “hold” rating and set a $83.00 target price on shares of ePlus in a report on Tuesday, August 13th. Finally, ValuEngine upgraded shares of ePlus from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $85.67.

Shares of PLUS stock traded down $1.89 during trading hours on Wednesday, hitting $75.05. The company had a trading volume of 3,154 shares, compared to its average volume of 80,146. The stock has a market capitalization of $1.02 billion, a PE ratio of 16.14 and a beta of 1.28. ePlus has a fifty-two week low of $65.52 and a fifty-two week high of $95.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.54 and a quick ratio of 1.39. The company’s fifty day moving average is $78.16 and its 200 day moving average is $79.70.

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

In other ePlus news, Director Lawrence S. Herman sold 600 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $75.60, for a total value of $45,360.00. Following the sale, the director now directly owns 9,549 shares of the company’s stock, valued at approximately $721,904.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.59% of the company’s stock.

Several large investors have recently made changes to their positions in the business. US Bancorp DE grew its position in shares of ePlus by 33.2% in the 2nd quarter. US Bancorp DE now owns 754 shares of the software maker’s stock valued at $52,000 after buying an additional 188 shares during the last quarter. Tower Research Capital LLC TRC grew its position in ePlus by 357.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 760 shares of the software maker’s stock worth $52,000 after purchasing an additional 594 shares during the last quarter. Meeder Asset Management Inc. grew its position in ePlus by 809.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,209 shares of the software maker’s stock worth $92,000 after purchasing an additional 1,076 shares during the last quarter. Bank of Montreal Can grew its position in ePlus by 167.9% during the 2nd quarter. Bank of Montreal Can now owns 1,784 shares of the software maker’s stock worth $122,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its position in ePlus by 7.0% during the 2nd quarter. Zions Bancorporation N.A. now owns 2,308 shares of the software maker’s stock worth $159,000 after purchasing an additional 150 shares during the last quarter. 90.12% of the stock is currently owned by institutional investors.

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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