ePlus (NASDAQ:PLUS) Stock Rating Upgraded by Berenberg Bank

Berenberg Bank upgraded shares of ePlus (NASDAQ:PLUS) from a hold rating to a buy rating in a research note released on Tuesday morning, Benzinga reports. Berenberg Bank currently has $102.00 target price on the software maker’s stock, up from their previous target price of $91.00.

Several other equities analysts also recently issued reports on the stock. BidaskClub raised shares of ePlus from a sell rating to a hold rating in a research note on Tuesday, December 24th. Sidoti raised shares of ePlus from a neutral rating to a buy rating and raised their price target for the company from $98.00 to $105.00 in a research note on Thursday, February 6th. Zacks Investment Research downgraded shares of ePlus from a strong-buy rating to a hold rating in a research note on Wednesday, January 8th. Finally, ValuEngine raised shares of ePlus from a strong sell rating to a sell rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $101.00.

PLUS stock opened at $86.03 on Tuesday. The company has a fifty day moving average price of $84.89 and a 200-day moving average price of $81.50. The company has a market capitalization of $1.17 billion, a P/E ratio of 16.26 and a beta of 1.22. ePlus has a 52-week low of $67.00 and a 52-week high of $99.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.43 and a current ratio of 1.57.

ePlus (NASDAQ:PLUS) last released its quarterly earnings results on Wednesday, February 5th. The software maker reported $1.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.28. The firm had revenue of $428.99 million during the quarter, compared to the consensus estimate of $393.40 million. ePlus had a net margin of 4.58% and a return on equity of 15.97%. As a group, sell-side analysts forecast that ePlus will post 5.13 earnings per share for the current fiscal year.

In related news, COO Darren S. Raiguel sold 1,080 shares of ePlus stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $90.02, for a total transaction of $97,221.60. Following the completion of the transaction, the chief operating officer now owns 40,515 shares of the company’s stock, valued at $3,647,160.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elaine D. Marion sold 3,959 shares of ePlus stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $85.01, for a total transaction of $336,554.59. Following the transaction, the chief financial officer now directly owns 57,119 shares of the company’s stock, valued at approximately $4,855,686.19. The disclosure for this sale can be found here. Insiders have sold 8,639 shares of company stock valued at $752,694 in the last three months. 2.59% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PLUS. Huntington National Bank raised its stake in ePlus by 32.6% during the third quarter. Huntington National Bank now owns 829 shares of the software maker’s stock worth $63,000 after buying an additional 204 shares during the last quarter. Parallel Advisors LLC increased its stake in ePlus by 636.7% in the fourth quarter. Parallel Advisors LLC now owns 1,083 shares of the software maker’s stock valued at $91,000 after purchasing an additional 936 shares in the last quarter. Meeder Asset Management Inc. increased its stake in ePlus by 809.0% in the third quarter. Meeder Asset Management Inc. now owns 1,209 shares of the software maker’s stock valued at $92,000 after purchasing an additional 1,076 shares in the last quarter. SG Americas Securities LLC bought a new stake in ePlus in the fourth quarter valued at $162,000. Finally, Bank of Montreal Can increased its stake in ePlus by 14.8% in the fourth quarter. Bank of Montreal Can now owns 2,108 shares of the software maker’s stock valued at $178,000 after purchasing an additional 271 shares in the last quarter. 90.89% of the stock is owned by institutional investors and hedge funds.

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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