Berenberg Bank Reiterates $98.00 Price Target for ePlus (PLUS)

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Berenberg Bank set a $98.00 price objective on ePlus (NASDAQ:PLUS) in a research note released on Thursday morning, TipRanks reports. The firm currently has a buy rating on the software maker’s stock.

A number of other research firms have also weighed in on PLUS. BidaskClub raised shares of ePlus from a buy rating to a strong-buy rating in a research note on Wednesday, May 1st. Zacks Investment Research raised shares of ePlus from a sell rating to a hold rating in a research note on Wednesday, April 10th. Finally, ValuEngine raised shares of ePlus from a sell rating to a hold rating in a research note on Monday, February 4th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. ePlus has a consensus rating of Buy and an average price target of $99.50.

ePlus stock opened at $75.49 on Thursday. ePlus has a 1-year low of $65.52 and a 1-year high of $107.25. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 17.89 and a beta of 1.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 1.70.

ePlus (NASDAQ:PLUS) last released its quarterly earnings data on Wednesday, May 22nd. The software maker reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.18. ePlus had a net margin of 4.14% and a return on equity of 16.64%. The firm had revenue of $325.43 million for the quarter, compared to analyst estimates of $357.65 million. Equities research analysts predict that ePlus will post 4.49 EPS for the current year.

In related news, CFO Elaine D. Marion sold 2,661 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $95.12, for a total transaction of $253,114.32. Following the transaction, the chief financial officer now directly owns 64,006 shares of the company’s stock, valued at $6,088,250.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elaine D. Marion sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $91.25, for a total transaction of $456,250.00. Following the transaction, the chief financial officer now directly owns 66,967 shares in the company, valued at $6,110,738.75. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $1,311,665 over the last ninety days. Insiders own 2.72% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC lifted its position in shares of ePlus by 2.7% during the first quarter. Mason Street Advisors LLC now owns 4,371 shares of the software maker’s stock valued at $387,000 after purchasing an additional 115 shares in the last quarter. Campbell Newman Asset Management Inc. lifted its position in shares of ePlus by 2.5% during the first quarter. Campbell Newman Asset Management Inc. now owns 7,864 shares of the software maker’s stock valued at $696,000 after purchasing an additional 189 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its position in shares of ePlus by 5.8% during the first quarter. Piedmont Investment Advisors Inc. now owns 3,479 shares of the software maker’s stock valued at $308,000 after purchasing an additional 192 shares in the last quarter. First Trust Advisors LP lifted its position in shares of ePlus by 2.0% during the first quarter. First Trust Advisors LP now owns 10,703 shares of the software maker’s stock valued at $948,000 after purchasing an additional 211 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of ePlus by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 9,780 shares of the software maker’s stock valued at $696,000 after purchasing an additional 215 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

About ePlus

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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