ValuEngine Lowers ePlus (NASDAQ:PLUS) to Strong Sell

ValuEngine lowered shares of ePlus (NASDAQ:PLUS) from a sell rating to a strong sell rating in a research note released on Friday, ValuEngine reports.

A number of other brokerages have also recently issued reports on PLUS. Berenberg Bank reaffirmed a hold rating and issued a $83.00 target price on shares of ePlus in a report on Tuesday, August 13th. BidaskClub cut shares of ePlus from a strong-buy rating to a buy rating in a report on Friday, September 13th. Sidoti raised shares of ePlus from a neutral rating to a buy rating in a report on Monday, July 1st. Finally, Zacks Investment Research cut shares of ePlus from a hold rating to a sell rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $85.67.

NASDAQ PLUS opened at $77.00 on Friday. The stock has a market capitalization of $1.06 billion, a P/E ratio of 16.56 and a beta of 1.30. ePlus has a 52-week low of $65.52 and a 52-week high of $100.00. The firm has a 50-day moving average price of $79.57 and a 200 day moving average price of $81.36. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.02.

ePlus (NASDAQ:PLUS) last issued its earnings results on Wednesday, August 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. ePlus had a net margin of 4.59% and a return on equity of 16.10%. The company had revenue of $381.37 million during the quarter, compared to analysts’ expectations of $355.15 million. On average, equities research analysts expect that ePlus will post 4.18 earnings per share for the current fiscal year.

In other ePlus news, Director Lawrence S. Herman sold 600 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $71.25, for a total value of $42,750.00. Following the completion of the transaction, the director now directly owns 10,149 shares of the company’s stock, valued at $723,116.25. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.59% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its holdings in ePlus by 357.8% in the second quarter. Tower Research Capital LLC TRC now owns 760 shares of the software maker’s stock valued at $52,000 after buying an additional 594 shares in the last quarter. US Bancorp DE grew its position in shares of ePlus by 33.2% in the second quarter. US Bancorp DE now owns 754 shares of the software maker’s stock valued at $52,000 after purchasing an additional 188 shares during the last quarter. Bank of Montreal Can grew its position in shares of ePlus by 167.9% in the second quarter. Bank of Montreal Can now owns 1,784 shares of the software maker’s stock valued at $122,000 after purchasing an additional 1,118 shares during the last quarter. Zions Bancorporation N.A. grew its position in shares of ePlus by 7.0% in the second quarter. Zions Bancorporation N.A. now owns 2,308 shares of the software maker’s stock valued at $159,000 after purchasing an additional 150 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of ePlus in the second quarter valued at approximately $207,000. 90.08% of the stock is owned by institutional investors.

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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