ePlus (PLUS) Rating Increased to Buy at Zacks Investment Research
ePlus (NASDAQ:PLUS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $81.00 price objective on the software maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.45% from the stock’s current price.
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. “
PLUS has been the subject of several other reports. BidaskClub upgraded ePlus from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Stifel Nicolaus reiterated a “hold” rating and set a $75.00 target price on shares of ePlus in a research note on Tuesday, October 17th. Finally, Sidoti upgraded ePlus from a “neutral” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.00.
ePlus (NASDAQ:PLUS) last issued its earnings results on Wednesday, February 7th. The software maker reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.13. ePlus had a return on equity of 15.06% and a net margin of 4.01%. The company had revenue of $342.57 million during the quarter, compared to the consensus estimate of $344.25 million. research analysts anticipate that ePlus will post 4.08 earnings per share for the current fiscal year.
In related news, Director John E. Callies sold 1,200 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.35, for a total value of $96,420.00. Following the completion of the sale, the director now directly owns 11,154 shares in the company, valued at approximately $896,223.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elaine D. Marion sold 3,000 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $80.45, for a total value of $241,350.00. Following the completion of the sale, the chief financial officer now owns 74,568 shares of the company’s stock, valued at $5,998,995.60. The disclosure for this sale can be found here. Insiders own 3.25% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 1st Global Advisors Inc. boosted its stake in ePlus by 1.2% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,178 shares of the software maker’s stock valued at $384,000 after purchasing an additional 62 shares during the period. American International Group Inc. boosted its stake in ePlus by 7.0% in the 3rd quarter. American International Group Inc. now owns 10,527 shares of the software maker’s stock valued at $973,000 after purchasing an additional 687 shares during the period. Bowling Portfolio Management LLC boosted its stake in ePlus by 5.6% in the 4th quarter. Bowling Portfolio Management LLC now owns 15,921 shares of the software maker’s stock valued at $1,197,000 after purchasing an additional 851 shares during the period. New York State Common Retirement Fund boosted its stake in ePlus by 3.9% in the 3rd quarter. New York State Common Retirement Fund now owns 23,713 shares of the software maker’s stock valued at $2,192,000 after purchasing an additional 882 shares during the period. Finally, California Public Employees Retirement System boosted its stake in ePlus by 1.3% in the 3rd quarter. California Public Employees Retirement System now owns 68,004 shares of the software maker’s stock valued at $6,287,000 after purchasing an additional 904 shares during the period. Institutional investors and hedge funds own 87.59% of the company’s stock.
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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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