ePlus inc. (PLUS) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of ePlus inc. (NASDAQ:PLUS) from a hold rating to a buy rating in a research note published on Saturday morning. Zacks Investment Research currently has $99.00 target price on the software maker’s stock.
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 PLUS. Stifel Nicolaus reiterated a hold rating on shares of ePlus inc. in a research note on Thursday. ValuEngine upgraded ePlus inc. from a hold rating to a buy rating in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. ePlus inc. presently has an average rating of Buy and an average target price of $30.06.
Shares of ePlus inc. (NASDAQ PLUS) traded down 3.04% during trading on Friday, reaching $86.05. The company’s stock had a trading volume of 126,900 shares. ePlus inc. has a 52 week low of $41.47 and a 52 week high of $89.65. The company has a market cap of $1.19 billion, a PE ratio of 22.57 and a beta of 1.41. The stock’s 50 day moving average price is $76.58 and its 200 day moving average price is $93.23.
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In related news, Director Eric D. Hovde sold 3,389 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $80.30, for a total value of $272,136.70. Following the sale, the director now owns 68,703 shares in the company, valued at approximately $5,516,850.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Phillip G. Norton sold 20,880 shares of the stock in a transaction on Thursday, June 8th. The shares were 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. In the last quarter, insiders have sold 65,103 shares of company stock worth $5,136,851. Company insiders own 3.25% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Elkfork Partners LLC boosted its stake in ePlus inc. by 160.0% in the first quarter. Elkfork Partners LLC now owns 884 shares of the software maker’s stock worth $119,000 after buying an additional 544 shares during the period. Swiss National Bank boosted its stake in ePlus inc. by 4.7% in the first quarter. Swiss National Bank now owns 11,114 shares of the software maker’s stock worth $1,501,000 after buying an additional 500 shares during the period. State Street Corp boosted its stake in ePlus inc. by 12.5% in the fourth quarter. State Street Corp now owns 140,301 shares of the software maker’s stock worth $16,167,000 after buying an additional 15,536 shares during the period. Reinhart Partners Inc. boosted its stake in ePlus inc. by 47.4% in the second quarter. Reinhart Partners Inc. now owns 25,460 shares of the software maker’s stock worth $1,887,000 after buying an additional 8,190 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in ePlus inc. by 63.9% in the first quarter. Wedge Capital Management L L P NC now owns 20,000 shares of the software maker’s stock worth $1,351,000 after buying an additional 7,800 shares during the period. Institutional investors and hedge funds own 48.84% of the company’s stock.
About ePlus inc.
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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