ePlus (NASDAQ:PLUS) PT Raised to $90.00 at Stifel Nicolaus

ePlus (NASDAQ:PLUS) had its price objective hoisted by research analysts at Stifel Nicolaus from $80.00 to $90.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ price target indicates a potential upside of 13.98% from the stock’s previous close.

ePlus Price Performance

Shares of PLUS traded down $0.30 during midday trading on Thursday, hitting $78.96. 60,946 shares of the company traded hands, compared to its average volume of 202,768. The stock has a 50-day moving average of $77.92 and a 200-day moving average of $75.33. ePlus has a one year low of $45.18 and a one year high of $83.57. The firm has a market cap of $2.13 billion, a P/E ratio of 16.26 and a beta of 1.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.93 and a quick ratio of 1.59.

Insider Activity

In other news, COO Darren S. Raiguel sold 4,833 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $80.37, for a total transaction of $388,428.21. Following the completion of the transaction, the chief operating officer now owns 33,290 shares of the company’s stock, valued at $2,675,517.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SummerHaven Investment Management LLC boosted its stake in ePlus by 1.1% in the fourth quarter. SummerHaven Investment Management LLC now owns 12,696 shares of the software maker’s stock worth $1,014,000 after buying an additional 143 shares in the last quarter. Lazard Asset Management LLC lifted its position in ePlus by 832.2% in the third quarter. Lazard Asset Management LLC now owns 14,412 shares of the software maker’s stock valued at $915,000 after purchasing an additional 12,866 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in ePlus by 3.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 6,246 shares of the software maker’s stock valued at $499,000 after purchasing an additional 204 shares during the last quarter. FMR LLC lifted its position in ePlus by 4,840.2% in the third quarter. FMR LLC now owns 286,975 shares of the software maker’s stock valued at $18,229,000 after purchasing an additional 281,166 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its position in ePlus by 33.5% in the third quarter. Dark Forest Capital Management LP now owns 8,424 shares of the software maker’s stock valued at $535,000 after purchasing an additional 2,113 shares during the last quarter. Hedge funds and other institutional investors own 93.80% of the company’s stock.

About ePlus

ePlus inc., together with its subsidiaries, provides information technology (IT) solutions that enable organizations to optimize their IT environment and supply chain processes in the United States and internationally. It operates in two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; and professional and managed services, including managed, professional, security solutions, cloud consulting and hosting, staff augmentation, storage-as-a-service, server and desktop support, and project management services.