ePlus Inc. (NASDAQ:PLUS) Given $97.00 Average Target Price by Analysts
ePlus Inc. (NASDAQ:PLUS) has been assigned a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company.
Brokers have set a 1 year consensus price objective of $97.00 for the company and are forecasting that the company will post $1.90 EPS for the current quarter, according to Zacks. Zacks has also assigned ePlus an industry rank of 89 out of 265 based on the ratings given to its competitors.
PLUS has been the subject of several research analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $110.00 price target on shares of ePlus in a research note on Thursday, August 4th. Zacks Investment Research raised shares of ePlus from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 27th.
Shares of ePlus (NASDAQ:PLUS) traded up 1.70% during midday trading on Wednesday, hitting $95.82. 12,091 shares of the stock were exchanged. The firm’s 50 day moving average is $90.51 and its 200-day moving average is $84.90. ePlus has a 1-year low of $61.78 and a 1-year high of $109.33. The stock has a market capitalization of $679.65 million, a price-to-earnings ratio of 15.02 and a beta of 1.03.
In other news, CEO Phillip G. Norton sold 1,500 shares of ePlus stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $82.52, for a total transaction of $123,780.00. Following the completion of the transaction, the chief executive officer now directly owns 38,702 shares in the company, valued at $3,193,689.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Terrence Odonnell sold 1,175 shares of ePlus stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $89.65, for a total transaction of $105,338.75. Following the transaction, the director now owns 6,427 shares of the company’s stock, valued at $576,180.55. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PLUS. Vanguard Group Inc. boosted its position in shares of ePlus by 4.9% in the second quarter. Vanguard Group Inc. now owns 399,288 shares of the company’s stock worth $32,659,000 after buying an additional 18,577 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of ePlus by 6.0% in the second quarter. BlackRock Fund Advisors now owns 390,459 shares of the company’s stock worth $31,936,000 after buying an additional 22,260 shares in the last quarter. Fiduciary Management Inc. WI boosted its position in shares of ePlus by 677.3% in the first quarter. Fiduciary Management Inc. WI now owns 335,775 shares of the company’s stock worth $27,033,000 after buying an additional 292,575 shares in the last quarter. Copper Rock Capital Partners LLC boosted its position in shares of ePlus by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 244,825 shares of the company’s stock worth $20,024,000 after buying an additional 3,806 shares in the last quarter. Finally, Henderson Group PLC boosted its position in shares of ePlus by 57.6% in the second quarter. Henderson Group PLC now owns 186,300 shares of the company’s stock worth $15,237,000 after buying an additional 68,066 shares in the last quarter. Hedge funds and other institutional investors own 84.72% of the company’s stock.
ePlus inc. is an integrator of technology solutions for information technology (IT) lifecycle management. The Company is engaged in selling, leasing, financing, and managing information technology and other assets. The Company operates in two segments: technology and financing. The Company’s technology segment includes sales of information technology products, third-party software, third-party maintenance, advanced professional and managed services and its software to commercial, state and local governments and government contractors.
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