Zacks Investment Research upgraded shares of ePlus (NASDAQ:PLUS) from a hold rating to a buy rating in a report issued on Friday, Zacks.com reports. They currently have $83.00 price objective on the software maker’s stock.
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 analysts have also recently weighed in on PLUS. BidaskClub upgraded shares of ePlus from a strong sell rating to a sell rating in a report on Saturday, May 23rd. Sidoti upgraded shares of ePlus from a neutral rating to a buy rating and boosted their target price for the company from $98.00 to $105.00 in a report on Thursday, February 6th. ValuEngine cut shares of ePlus from a hold rating to a sell rating in a report on Tuesday, May 26th. Finally, Berenberg Bank upgraded shares of ePlus from a hold rating to a buy rating and boosted their target price for the company from $91.00 to $102.00 in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. ePlus has an average rating of Hold and an average target price of $96.67.
ePlus (NASDAQ:PLUS) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.29. The business had revenue of $366.48 million for the quarter, compared to analysts’ expectations of $361.15 million. ePlus had a net margin of 4.35% and a return on equity of 15.04%. On average, analysts expect that ePlus will post 4.11 EPS for the current fiscal year.
In related news, Director Eric D. Hovde purchased 1,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $56.72 per share, with a total value of $56,720.00. Following the transaction, the director now directly owns 26,503 shares in the company, valued at $1,503,250.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.59% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. purchased a new position in shares of ePlus in the 1st quarter worth about $37,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of ePlus in the 1st quarter worth about $40,000. Parallel Advisors LLC raised its position in shares of ePlus by 636.7% in the 4th quarter. Parallel Advisors LLC now owns 1,083 shares of the software maker’s stock worth $91,000 after purchasing an additional 936 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of ePlus in the 4th quarter worth about $162,000. Finally, Denali Advisors LLC purchased a new position in shares of ePlus in the 1st quarter worth about $169,000. 90.89% of the stock is owned by hedge funds and other institutional investors.
ePlus Company Profile
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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