Zacks Research Downgrades ePlus (NASDAQ:PLUS) to Strong Sell

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

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

ePlus Trading Up 1.9%

PLUS stock opened at $81.85 on Wednesday. The business’s 50-day moving average price is $83.94 and its two-hundred day moving average price is $83.87. The firm has a market cap of $2.14 billion, a PE ratio of 16.91, a P/E/G ratio of 1.08 and a beta of 1.01. ePlus has a 1-year low of $62.11 and a 1-year high of $93.98.

ePlus (NASDAQ:PLUS) last announced its quarterly earnings results on Thursday, May 28th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. ePlus had a return on equity of 11.36% and a net margin of 5.24%.The company had revenue of $581.63 million during the quarter, compared to the consensus estimate of $569.25 million. On average, analysts forecast that ePlus will post 4.66 earnings per share for the current year.

Insider Activity

In related news, COO Darren S. Raiguel sold 1,000 shares of ePlus stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $89.95, for a total value of $89,950.00. Following the sale, the chief operating officer owned 55,748 shares of the company’s stock, valued at approximately $5,014,532.60. This trade represents a 1.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,289 shares of company stock worth $115,757 in the last ninety days. 1.93% of the stock is currently owned by company insiders.

Institutional Trading of ePlus

Hedge funds and other institutional investors have recently made changes to their positions in the business. Medina Value Partners LLC acquired a new stake in ePlus in the 3rd quarter valued at about $2,730,000. Elo Mutual Pension Insurance Co bought a new stake in ePlus in the third quarter valued at approximately $1,161,000. Tributary Capital Management LLC lifted 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 valued at $14,134,000 after buying an additional 13,369 shares during the last quarter. Andra AP fonden boosted its stake in shares of ePlus by 285.4% during the 3rd quarter. Andra AP fonden now owns 17,730 shares of the software maker’s stock worth $1,259,000 after acquiring an additional 13,130 shares during the period. Finally, Royce & Associates LP increased its holdings in shares of ePlus by 17.1% during the 3rd quarter. Royce & Associates LP now owns 156,356 shares of the software maker’s stock worth $11,103,000 after acquiring an additional 22,865 shares during the last quarter. 93.80% of the stock is currently owned by institutional investors and hedge funds.

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.