ePlus (PLUS) Downgraded by BidaskClub

BidaskClub downgraded shares of ePlus (NASDAQ:PLUS) from a buy rating to a hold rating in a report released on Saturday morning.

A number of other brokerages have also recently weighed in on PLUS. Stifel Nicolaus reaffirmed a hold rating and issued a $75.00 price objective on shares of ePlus in a research note on Tuesday, October 17th. Zacks Investment Research cut ePlus from a buy rating to a hold rating in a research note on Wednesday, October 4th. Finally, ValuEngine cut ePlus from a buy rating to a hold rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $58.77.

Shares of ePlus (NASDAQ PLUS) opened at $75.30 on Friday. ePlus has a one year low of $54.28 and a one year high of $97.75. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1,067.11, a price-to-earnings ratio of 19.23 and a beta of 1.28.

ePlus declared that its board has approved a stock buyback program on Friday, August 18th that authorizes the company to buyback 500,000 shares. This buyback authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In related news, Director John E. Callies sold 1,200 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.35, for a total transaction of $96,420.00. Following the completion of the transaction, the director now directly owns 11,154 shares of the company’s stock, valued at approximately $896,223.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark P. Marron sold 10,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $93.40, for a total value of $934,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,800 shares of company stock valued at $2,114,812 over the last three months. 3.25% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLUS. 1st Global Advisors Inc. lifted its holdings in ePlus by 1.2% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,178 shares of the software maker’s stock worth $384,000 after buying an additional 62 shares during the last quarter. Teachers Advisors LLC lifted its holdings in ePlus by 4.2% during the 1st quarter. Teachers Advisors LLC now owns 10,740 shares of the software maker’s stock worth $1,450,000 after buying an additional 431 shares during the last quarter. Bank of Montreal Can lifted its holdings in ePlus by 74.2% during the 2nd quarter. Bank of Montreal Can now owns 1,606 shares of the software maker’s stock worth $119,000 after buying an additional 684 shares during the last quarter. American International Group Inc. lifted its holdings in ePlus by 7.0% during the 3rd quarter. American International Group Inc. now owns 10,527 shares of the software maker’s stock worth $973,000 after buying an additional 687 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in ePlus by 169.6% during the 2nd quarter. Sei Investments Co. now owns 1,386 shares of the software maker’s stock worth $103,000 after buying an additional 872 shares during the last quarter. 89.72% of the stock is owned by hedge funds and other institutional investors.

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ePlus 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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