Wall Street Zen Downgrades ePlus (NASDAQ:PLUS) to Hold

ePlus (NASDAQ:PLUS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Zacks Research upgraded ePlus from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

ePlus Stock Performance

NASDAQ PLUS opened at $73.84 on Friday. ePlus has a one year low of $53.83 and a one year high of $106.98. The stock has a 50-day moving average of $69.83 and a 200 day moving average of $66.95. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 2.26 and a beta of 1.17.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PLUS. River Road Asset Management LLC lifted its position in shares of ePlus by 17.2% during the 2nd quarter. River Road Asset Management LLC now owns 1,624,923 shares of the software maker’s stock valued at $117,157,000 after buying an additional 238,070 shares in the last quarter. Swedbank AB raised its holdings in shares of ePlus by 116.7% during the 1st quarter. Swedbank AB now owns 325,000 shares of the software maker’s stock worth $19,835,000 after acquiring an additional 175,000 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of ePlus by 138.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 204,857 shares of the software maker’s stock worth $14,770,000 after acquiring an additional 118,874 shares in the last quarter. Millennium Management LLC increased its position in shares of ePlus by 103.1% during the 1st quarter. Millennium Management LLC now owns 226,399 shares of the software maker’s stock valued at $13,817,000 after purchasing an additional 114,900 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of ePlus by 1,986.6% during the 1st quarter. Jane Street Group LLC now owns 103,348 shares of the software maker’s stock valued at $6,307,000 after purchasing an additional 98,395 shares during the last quarter. 93.80% of the stock is owned by hedge funds and other institutional investors.

ePlus Company Profile

ePlus inc., together with its subsidiaries, provides information technology (IT) solutions that enable organizations to optimize their IT environment and supply chain processes in the United States and internationally. It operates through two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; managed services or infrastructure and cloud; and enhanced maintenance support, service desk, storage-as-a-service, cloud hosted and managed, and managed security services; and professional, staff augmentation, cloud consulting, consulting, and security services.