ePlus (PLUS) Cut to Hold at BidaskClub

ePlus (NASDAQ:PLUS) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other research analysts also recently commented on PLUS. Zacks Investment Research raised shares of ePlus from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Saturday, August 19th. Stifel Nicolaus reissued a “hold” rating and set a $75.00 target price on shares of ePlus in a research report on Tuesday, October 17th. Finally, ValuEngine downgraded shares of ePlus from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.77.

ePlus (PLUS) opened at $75.30 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.01. The company has a market cap of $1,070.00, a PE ratio of 19.37 and a beta of 1.26. ePlus has a 12-month low of $54.28 and a 12-month high of $97.75.

ePlus declared that its board has approved a share repurchase plan on Friday, August 18th that allows the company to buyback 500,000 outstanding shares. This buyback authorization allows the software maker to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

In other news, CFO Elaine D. Marion sold 3,000 shares of ePlus stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $93.40, for a total value of $280,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark P. Marron sold 10,000 shares of ePlus stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $93.40, for a total transaction of $934,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,800 shares of company stock worth $2,114,812 in the last three months. Insiders own 3.25% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of ePlus by 96.1% in the 2nd quarter. BlackRock Inc. now owns 1,554,745 shares of the software maker’s stock worth $115,207,000 after buying an additional 761,763 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of ePlus by 96.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,173,675 shares of the software maker’s stock worth $86,970,000 after buying an additional 576,536 shares during the last quarter. Fiduciary Management Inc. WI grew its position in shares of ePlus by 102.6% in the 2nd quarter. Fiduciary Management Inc. WI now owns 1,063,046 shares of the software maker’s stock worth $78,772,000 after buying an additional 538,286 shares during the last quarter. FMR LLC grew its position in shares of ePlus by 171.3% in the 2nd quarter. FMR LLC now owns 959,478 shares of the software maker’s stock worth $71,097,000 after buying an additional 605,842 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of ePlus by 101.5% in the 2nd quarter. Vanguard Group Inc. now owns 919,169 shares of the software maker’s stock worth $68,110,000 after buying an additional 462,907 shares during the last quarter. 89.72% of the stock is currently owned by hedge funds and other institutional investors.

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ePlus 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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