ePlus (NASDAQ:PLUS) Upgraded at Zacks Research

Key Points

• ePlus has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, while Wall Street Zen downgraded it from "buy" to "hold".
• The stock of ePlus is currently trading at $71.52 with a market cap of $1.90 billion and an average rating of "hold".
• Institutional investors and hedge funds own 93.80% of ePlus's stock, indicating strong backing from larger investment entities.

ePlus (NASDAQ:PLUS - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Separately, Wall Street Zen cut ePlus from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold".

ePlus Trading Down 1.1%

NASDAQ PLUS opened at $71.52 on Monday. The stock has a market cap of $1.90 billion, a PE ratio of 16.04, a P/E/G ratio of 2.18 and a beta of 1.14. ePlus has a twelve month low of $53.83 and a twelve month high of $106.98. The stock has a fifty day simple moving average of $69.92 and a 200-day simple moving average of $66.66.

Hedge Funds Weigh In On ePlus

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in ePlus by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,448,514 shares of the software maker's stock worth $149,433,000 after acquiring an additional 11,051 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in ePlus in the 4th quarter valued at about $127,898,000. River Road Asset Management LLC raised its position in ePlus by 17.2% in 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 purchasing an additional 238,070 shares in the last quarter. State Street Corp raised its position in ePlus by 0.9% in the 2nd quarter. State Street Corp now owns 1,019,061 shares of the software maker's stock valued at $73,474,000 after purchasing an additional 8,956 shares in the last quarter. Finally, American Century Companies Inc. raised its position in ePlus by 7.2% in the 2nd quarter. American Century Companies Inc. now owns 927,875 shares of the software maker's stock valued at $66,900,000 after purchasing an additional 62,557 shares in the last quarter. Institutional investors and hedge funds own 93.80% of the company's stock.

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.

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