ePlus (NASDAQ:PLUS) Rating Lowered to Hold at Zacks Research

ePlus (NASDAQ:PLUS) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

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

ePlus Stock Up 1.2%

ePlus stock opened at $82.95 on Tuesday. The firm has a market cap of $2.19 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 0.89 and a beta of 1.04. ePlus has a 52-week low of $62.11 and a 52-week high of $93.98. The company’s 50 day moving average is $80.86 and its two-hundred day moving average is $84.18.

Insider Activity at ePlus

In other ePlus news, COO Darren S. Raiguel sold 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $89.95, for a total value of $89,950.00. Following the sale, the chief operating officer directly owned 55,748 shares of the company’s stock, valued at approximately $5,014,532.60. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have sold 1,289 shares of company stock valued at $115,757. Corporate insiders own 1.93% of the company’s stock.

Institutional Investors Weigh In On ePlus

A number of large investors have recently modified their holdings of the company. Amundi increased its position in shares of ePlus by 30.2% in the 1st quarter. Amundi now owns 4,259 shares of the software maker’s stock valued at $320,000 after purchasing an additional 987 shares during the last quarter. Royal Bank of Canada increased its position in shares of ePlus by 9.6% in the 1st quarter. Royal Bank of Canada now owns 278,636 shares of the software maker’s stock valued at $20,968,000 after purchasing an additional 24,348 shares during the last quarter. Empowered Funds LLC grew its position in shares of ePlus by 8.0% in the 1st quarter. Empowered Funds LLC now owns 11,113 shares of the software maker’s stock valued at $836,000 after buying an additional 826 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of ePlus by 10.1% in the 1st quarter. Quantinno Capital Management LP now owns 12,013 shares of the software maker’s stock valued at $904,000 after buying an additional 1,102 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of ePlus in the 1st quarter valued at $3,601,000. 93.80% of the stock is owned by hedge funds and other institutional investors.

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.