Trade Report: Today, ePlus Inc. (PLUS) Upgraded to Strong-Buy at The Zacks Investment Research

Today, ePlus Inc. (PLUS) Upgraded to Strong-Buy at The Zacks Investment Research

ePlus Inc. (NASDAQ:PLUS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm presently has a $112.00 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 0.04% from the stock’s current price.

According to Zacks, “ePlus Inc. serves as the parent holding company for ePlus Group, Inc., ePlus Technology of NC, Inc., ePlus Technology of PA, Inc., ePlus Technology, Inc., ePlus Government, Inc., ePlus Capital, Inc., ePlus Systems, Inc., ePlus Content Services, Inc and MLC Leasing, S.A. de C.V. “

Separately, Canaccord Genuity reiterated a “buy” rating and issued a $110.00 price objective on shares of ePlus in a research note on Thursday, August 4th.

ePlus (NASDAQ:PLUS) traded up 0.72% during midday trading on Tuesday, hitting $111.95. The company had a trading volume of 15,241 shares. ePlus has a 52 week low of $61.78 and a 52 week high of $111.95. The firm’s 50 day moving average is $97.04 and its 200-day moving average is $89.23. The firm has a market capitalization of $792.61 million, a P/E ratio of 16.90 and a beta of 1.08.

In related news, Chairman Phillip G. Norton sold 24,242 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $90.27, for a total value of $2,188,325.34. Following the transaction, the chairman now owns 38,702 shares in the company, valued at $3,493,629.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Phillip G. Norton sold 51,832 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $90.43, for a total value of $4,687,167.76. Following the completion of the transaction, the insider now owns 38,702 shares in the company, valued at approximately $3,499,821.86. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company purchased a new position in ePlus during the third quarter valued at approximately $400,000. Two Sigma Advisers LP increased its position in ePlus by 22.1% in the third quarter. Two Sigma Advisers LP now owns 11,604 shares of the company’s stock valued at $1,096,000 after buying an additional 2,100 shares during the last quarter. EULAV Asset Management increased its position in ePlus by 13.8% in the third quarter. EULAV Asset Management now owns 39,700 shares of the company’s stock valued at $3,748,000 after buying an additional 4,800 shares during the last quarter. KCG Holdings Inc. purchased a new position in ePlus during the third quarter valued at approximately $354,000. Finally, Citadel Advisors LLC purchased a new position in ePlus during the third quarter valued at approximately $696,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

ePlus Company Profile

ePlus inc. is a holding company. The Company is engaged in the business of selling, leasing, financing and managing information technology. It operates through two segments: technology and financing. The technology segment sells information technology (IT) hardware products, third-party software and maintenance contracts, its own and third-party professional and managed services, and its software.

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