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

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

Several other analysts also recently issued reports on PLUS. Wall Street Zen downgraded ePlus from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings cut ePlus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

ePlus Stock Up 1.9%

ePlus stock opened at $81.85 on Wednesday. The stock has a market cap of $2.14 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.08 and a beta of 1.01. ePlus has a twelve month low of $62.11 and a twelve month high of $93.98. The company’s 50-day moving average price is $83.94 and its two-hundred day moving average price is $83.87.

ePlus (NASDAQ:PLUS) last issued its quarterly earnings data on Thursday, May 28th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $581.63 million during the quarter, compared to analysts’ expectations of $569.25 million. ePlus had a return on equity of 11.36% and a net margin of 5.24%. Equities analysts anticipate that ePlus will post 4.66 earnings per share for the current fiscal year.

ePlus Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 17th will be issued a dividend of $0.27 per share. This is a boost from ePlus’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, June 17th. ePlus’s payout ratio is 22.31%.

Insider Buying and Selling at ePlus

In related news, COO Darren S. Raiguel sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $89.95, for a total value of $89,950.00. Following the completion of the sale, the chief operating officer directly owned 55,748 shares in the company, valued at approximately $5,014,532.60. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 1,289 shares of company stock valued at $115,757 in the last three months. 1.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ePlus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLUS. Osaic Holdings Inc. increased its holdings in ePlus by 361.9% in the 2nd quarter. Osaic Holdings Inc. now owns 448 shares of the software maker’s stock valued at $32,000 after buying an additional 351 shares during the period. GAMMA Investing LLC increased its stake in shares of ePlus by 30.8% in the 4th quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock valued at $79,000 after purchasing an additional 213 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of ePlus in the 4th quarter valued at $108,000. US Bancorp DE raised its holdings in shares of ePlus by 856.4% during the 3rd quarter. US Bancorp DE now owns 1,731 shares of the software maker’s stock worth $123,000 after buying an additional 1,550 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of ePlus during the 4th quarter worth $138,000. 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.