ePlus (NASDAQ:PLUS) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of ePlus (NASDAQ:PLUS) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

PLUS has been the topic of several other reports. Wall Street Zen downgraded ePlus from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings lowered shares of ePlus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 13th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

ePlus Stock Up 1.2%

Shares of ePlus stock opened at $82.95 on Tuesday. ePlus has a fifty-two week low of $62.11 and a fifty-two week high of $93.98. The business’s fifty day moving average is $80.86 and its two-hundred day moving average is $84.18. The firm has a market cap of $2.19 billion, a PE ratio of 16.49, a P/E/G ratio of 0.89 and a beta of 1.04.

Insiders Place Their Bets

In other ePlus news, COO Darren S. Raiguel sold 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $89.95, for a total transaction of $89,950.00. Following the completion of the sale, the chief operating officer owned 55,748 shares of the company’s stock, valued at approximately $5,014,532.60. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,289 shares of company stock valued at $115,757 in the last 90 days. 1.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ePlus

Several hedge funds and other institutional investors have recently modified their holdings of the company. Amundi raised its holdings in ePlus by 333.0% in the first quarter. Amundi now owns 5,361 shares of the software maker’s stock valued at $313,000 after buying an additional 4,123 shares during the period. AQR Capital Management LLC increased its position in shares of ePlus by 20.4% in the first quarter. AQR Capital Management LLC now owns 45,612 shares of the software maker’s stock worth $2,784,000 after acquiring an additional 7,742 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ePlus by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,666 shares of the software maker’s stock worth $956,000 after acquiring an additional 687 shares in the last quarter. Millennium Management LLC raised its stake in shares of ePlus by 103.1% in the 1st quarter. Millennium Management LLC now owns 226,399 shares of the software maker’s stock valued at $13,817,000 after acquiring an additional 114,900 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of ePlus by 628.3% during the 1st quarter. Jones Financial Companies Lllp now owns 3,066 shares of the software maker’s stock valued at $187,000 after acquiring an additional 2,645 shares in the last quarter. 93.80% of the stock is owned by institutional investors and hedge funds.

ePlus Company Profile

ePlus Inc (NASDAQ:PLUS) is a technology solutions provider that helps enterprises and public-sector organizations maximize the value of their information technology investments. The company specializes in designing, implementing and managing complex IT infrastructures, with a focus on security, cloud computing, data center modernization and unified communications. By combining consulting services with software license management and hardware procurement, ePlus delivers end-to-end solutions that align with its clients’ strategic objectives.

The company’s offerings include cybersecurity assessments and managed security services, hybrid and public cloud deployments, network architecture and optimization, and collaboration platforms.