BidaskClub Downgrades ePlus (NASDAQ:PLUS) to Buy

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

A number of other research analysts also recently weighed in on the company. ValuEngine raised ePlus from a strong sell rating to a sell rating in a research note on Thursday, August 8th. Sidoti raised ePlus from a neutral rating to a buy rating in a research note on Monday, July 1st. Berenberg Bank reissued a hold rating and issued a $83.00 price target on shares of ePlus in a research note on Tuesday, August 13th. Finally, Zacks Investment Research raised ePlus from a sell rating to a hold rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $85.67.

Shares of PLUS opened at $80.08 on Friday. The business’s fifty day moving average price is $79.33 and its two-hundred day moving average price is $81.58. 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 firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 17.22 and a beta of 1.30. ePlus has a 52 week low of $65.52 and a 52 week high of $102.80.

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

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

Several hedge funds have recently bought and sold shares of PLUS. US Bancorp DE raised its stake in ePlus by 33.2% during the 2nd quarter. US Bancorp DE now owns 754 shares of the software maker’s stock worth $52,000 after buying an additional 188 shares during the period. Tower Research Capital LLC TRC raised its stake 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 buying an additional 594 shares during the period. Bank of Montreal Can raised its stake 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 buying an additional 1,118 shares during the period. Zions Bancorporation N.A. acquired a new stake in ePlus during the 1st quarter worth $191,000. Finally, Everence Capital Management Inc. acquired a new stake in ePlus during the 1st quarter worth $202,000. 90.08% 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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