ePlus (NASDAQ:PLUS) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of ePlus (NASDAQ:PLUS) from a hold rating to a sell rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “ePlus inc. is a leading provider of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, professional services, flexible lease financing, proprietary software, and patented business methods. With the highest certifications from top technology partners and expertise in key technologies from data center to security, cloud, and collaboration, ePlus transforms IT from a cost center to a business enabler. “

Several other research firms have also issued reports on PLUS. ValuEngine upgraded ePlus from a strong sell rating to a sell rating in a research note on Thursday, August 8th. BidaskClub lowered ePlus from a strong-buy rating to a buy rating in a research note on Friday, September 13th. Berenberg Bank restated a hold rating and issued a $83.00 price objective on shares of ePlus in a research note on Tuesday, August 13th. Finally, Sidoti upgraded ePlus from a neutral rating to a buy rating in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $85.67.

NASDAQ:PLUS traded down $0.14 on Thursday, reaching $78.65. The company’s stock had a trading volume of 353 shares, compared to its average volume of 106,760. 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 cap of $1.07 billion, a PE ratio of 17.05 and a beta of 1.30. The business’s 50-day moving average price is $79.56 and its two-hundred day moving average price is $81.42. ePlus has a 1-year low of $65.52 and a 1-year high of $100.00.

ePlus (NASDAQ:PLUS) last released its earnings results on Wednesday, August 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. ePlus had a return on equity of 16.10% and a net margin of 4.59%. The business had revenue of $381.37 million for the quarter, compared to analyst estimates of $355.15 million. As a group, sell-side analysts expect that ePlus will post 4.18 EPS for the current year.

In other news, Director Lawrence S. Herman sold 600 shares of the company’s stock in a transaction that occurred 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 $721,904.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.59% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Fiduciary Management Inc. WI boosted its holdings in shares of ePlus by 9.3% in the 2nd quarter. Fiduciary Management Inc. WI now owns 873,721 shares of the software maker’s stock valued at $60,234,000 after purchasing an additional 74,020 shares in the last quarter. Cortina Asset Management LLC boosted its holdings in shares of ePlus by 30.0% in the 2nd quarter. Cortina Asset Management LLC now owns 241,442 shares of the software maker’s stock valued at $16,645,000 after purchasing an additional 55,689 shares in the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of ePlus in the 1st quarter valued at $191,000. AJO LP acquired a new stake in shares of ePlus in the 1st quarter valued at $1,139,000. Finally, Scout Investments Inc. boosted its holdings in shares of ePlus by 63.3% in the 2nd quarter. Scout Investments Inc. now owns 84,956 shares of the software maker’s stock valued at $5,857,000 after purchasing an additional 32,947 shares in the last quarter. 90.08% of the stock is currently owned by institutional investors and hedge funds.

About ePlus

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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