ePlus inc. (PLUS) Stock Rating Upgraded by Zacks Investment Research
ePlus inc. (NASDAQ:PLUS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $94.00 target price on the software maker’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.55% from the company’s previous close.
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. “
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of ePlus inc. from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $75.00 target price on shares of ePlus inc. in a report on Thursday, August 3rd. Finally, BidaskClub cut shares of ePlus inc. from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $45.80.
ePlus inc. (NASDAQ:PLUS) opened at 81.35 on Tuesday. ePlus inc. has a 12-month low of $44.20 and a 12-month high of $89.65. The firm’s 50-day moving average price is $81.89 and its 200 day moving average price is $87.30. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 21.33 and a beta of 1.42.
ePlus inc. declared that its board has authorized a stock buyback plan on Friday, August 18th that authorizes the company to repurchase 500,000 outstanding shares. This repurchase authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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In other ePlus inc. news, Director C Thomas Faulders III sold 5,214 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $85.43, for a total value of $445,432.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John E. Callies sold 1,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $83.15, for a total transaction of $83,150.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,603 shares of company stock worth $800,719. Insiders own 3.25% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. USA Financial Portformulas Corp bought a new position in ePlus inc. in the 2nd quarter valued at about $917,000. WINTON GROUP Ltd raised its holdings in ePlus inc. by 210.9% in the 2nd quarter. WINTON GROUP Ltd now owns 13,688 shares of the software maker’s stock valued at $1,014,000 after acquiring an additional 9,286 shares during the period. Public Employees Retirement System of Ohio raised its holdings in ePlus inc. by 208.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,475 shares of the software maker’s stock valued at $1,221,000 after acquiring an additional 11,131 shares during the period. 1st Global Advisors Inc. raised its holdings in ePlus inc. by 1.2% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,178 shares of the software maker’s stock valued at $384,000 after acquiring an additional 62 shares during the period. Finally, Grandeur Peak Global Advisors LLC raised its holdings in ePlus inc. by 47.4% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 12,681 shares of the software maker’s stock valued at $940,000 after acquiring an additional 4,078 shares during the period. 86.94% of the stock is currently owned by hedge funds and other institutional investors.
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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