ePlus inc. (PLUS) Given Consensus Rating of “Hold” by Analysts
Shares of ePlus inc. (NASDAQ:PLUS) have received a consensus rating of “Hold” from the six analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $29.73.
A number of brokerages recently commented on PLUS. Zacks Investment Research downgraded ePlus inc. from a “buy” rating to a “hold” rating in a research note on Saturday, September 2nd. BidaskClub downgraded ePlus inc. from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Stifel Nicolaus restated a “hold” rating and set a $75.00 price objective on shares of ePlus inc. in a research note on Thursday, August 3rd. Finally, ValuEngine downgraded ePlus inc. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.
ePlus inc. (PLUS) opened at 92.40 on Monday. The stock’s 50 day moving average is $88.95 and its 200-day moving average is $79.06. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 24.23 and a beta of 1.40. ePlus inc. has a 12 month low of $44.20 and a 12 month high of $97.75.
ePlus inc. declared that its board has initiated a stock buyback program on Friday, August 18th that allows the company to repurchase 500,000 shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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In other news, Director Bruce M. Bowen sold 400 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $82.57, for a total value of $33,028.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark P. Marron sold 10,000 shares of the 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. In the last three months, insiders sold 29,214 shares of company stock valued at $2,580,002. Company insiders own 3.25% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PLUS. BlackRock Inc. grew its stake in shares of ePlus inc. by 84,983.9% in the first quarter. BlackRock Inc. now owns 792,982 shares of the software maker’s stock worth $107,092,000 after purchasing an additional 792,050 shares in the last quarter. FMR LLC grew its stake in shares of ePlus inc. by 171.3% in the second quarter. FMR LLC now owns 959,478 shares of the software maker’s stock worth $71,097,000 after purchasing an additional 605,842 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ePlus inc. by 96.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,173,675 shares of the software maker’s stock worth $86,970,000 after purchasing an additional 576,536 shares in the last quarter. Fiduciary Management Inc. WI grew its stake in shares of ePlus inc. by 102.6% in the second quarter. Fiduciary Management Inc. WI now owns 1,063,046 shares of the software maker’s stock worth $78,772,000 after purchasing an additional 538,286 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of ePlus inc. by 101.5% in the second quarter. Vanguard Group Inc. now owns 919,169 shares of the software maker’s stock worth $68,110,000 after purchasing an additional 462,907 shares in the last quarter. 86.95% of the stock is owned by institutional investors.
ePlus inc. 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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