ePlus (NASDAQ:PLUS) Downgraded to Strong Sell Rating by Zacks Research

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

Other equities analysts have also issued research reports about the company. Weiss Ratings lowered ePlus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 13th. Wall Street Zen cut ePlus from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

ePlus Stock Performance

Shares of PLUS opened at $81.85 on Wednesday. ePlus has a 52 week low of $62.11 and a 52 week high of $93.98. The firm has a market cap of $2.14 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. The firm’s 50-day simple moving average is $83.94 and its 200 day simple moving average is $83.87.

ePlus (NASDAQ:PLUS) last released its quarterly earnings results on Thursday, May 28th. The software maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $581.63 million for the quarter, compared to analysts’ expectations of $569.25 million. ePlus had a net margin of 5.24% and a return on equity of 11.36%. As a group, equities analysts forecast that ePlus will post 4.66 earnings per share for the current year.

Insider Activity

In other ePlus news, COO Darren S. Raiguel sold 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $89.95, for a total transaction of $89,950.00. Following the transaction, the chief operating officer owned 55,748 shares in the company, valued at $5,014,532.60. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 1,289 shares of company stock worth $115,757. Corporate insiders own 1.93% of the company’s stock.

Hedge Funds Weigh In On ePlus

A number of hedge funds have recently added to or reduced their stakes in the stock. Medina Value Partners LLC bought a new stake in shares of ePlus during the 3rd quarter valued at $2,730,000. Elo Mutual Pension Insurance Co bought a new position in shares of ePlus in the third quarter worth $1,161,000. Tributary Capital Management LLC increased its position in shares of ePlus by 9.0% in the fourth quarter. Tributary Capital Management LLC now owns 161,166 shares of the software maker’s stock worth $14,134,000 after purchasing an additional 13,369 shares during the period. Andra AP fonden raised its stake in ePlus by 285.4% in the third quarter. Andra AP fonden now owns 17,730 shares of the software maker’s stock valued at $1,259,000 after purchasing an additional 13,130 shares in the last quarter. Finally, Royce & Associates LP lifted its position in ePlus by 17.1% during the third quarter. Royce & Associates LP now owns 156,356 shares of the software maker’s stock worth $11,103,000 after purchasing an additional 22,865 shares during the period. Institutional investors own 93.80% of the company’s stock.

About ePlus

ePlus Inc (NASDAQ:PLUS) is a technology solutions provider that helps enterprises and public-sector organizations maximize the value of their information technology investments. The company specializes in designing, implementing and managing complex IT infrastructures, with a focus on security, cloud computing, data center modernization and unified communications. By combining consulting services with software license management and hardware procurement, ePlus delivers end-to-end solutions that align with its clients’ strategic objectives.

The company’s offerings include cybersecurity assessments and managed security services, hybrid and public cloud deployments, network architecture and optimization, and collaboration platforms.