ePlus inc. (NASDAQ:PLUS) has earned a consensus rating of “Hold” from the six analysts that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $29.73.
A number of research firms have weighed in on PLUS. Stifel Nicolaus restated a “hold” rating and set a $75.00 target price on shares of ePlus inc. in a report on Tuesday, October 17th. Zacks Investment Research lowered ePlus inc. from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine lowered ePlus inc. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub lowered ePlus inc. from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th.
In other news, CEO Mark P. Marron sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $93.40, for a total transaction of $934,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce M. Bowen sold 400 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $82.57, for a total value of $33,028.00. The disclosure for this sale can be found here. Insiders sold a total of 29,214 shares of company stock valued at $2,580,002 in the last 90 days. 3.25% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Federated Investors Inc. PA boosted its holdings in ePlus inc. by 8.3% in the 2nd quarter. Federated Investors Inc. PA now owns 141,511 shares of the software maker’s stock worth $10,486,000 after buying an additional 10,785 shares during the last quarter. Menta Capital LLC purchased a new position in ePlus inc. in the 2nd quarter worth approximately $957,000. Pacific Ridge Capital Partners LLC lifted its stake in ePlus inc. by 36.4% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 14,490 shares of the software maker’s stock worth $1,074,000 after purchasing an additional 3,870 shares in the last quarter. Fiera Capital Corp purchased a new position in ePlus inc. in the 2nd quarter worth approximately $7,096,000. Finally, Swiss National Bank lifted its stake in ePlus inc. by 4.7% in the 1st quarter. Swiss National Bank now owns 11,114 shares of the software maker’s stock worth $1,501,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 86.58% of the company’s stock.
Shares of ePlus inc. (NASDAQ:PLUS) traded up 0.70% on Monday, reaching $92.85. The company’s stock had a trading volume of 148,613 shares. The firm has a 50-day moving average price of $89.56 and a 200 day moving average price of $79.75. The firm has a market capitalization of $1.32 billion, a PE ratio of 24.35 and a beta of 1.40. ePlus inc. has a one year low of $44.20 and a one year high of $97.75.
ePlus inc. declared that its Board of Directors has initiated a share buyback program on Friday, August 18th that permits the company to repurchase 500,000 shares. This repurchase authorization permits the software maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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About ePlus inc.
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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