ePlus Receives Upgrade to Buy Rating from StockNews.com

ePlus (NASDAQ:PLUS) was recently upgraded by analysts at StockNews.com, who moved the stock rating from "hold" to "buy" in a report released to investors on Friday.

Performance of ePlus Stock

During the mid-day trading session on Friday, ePlus shares saw an increase of $0.54, bringing the stock price to $70.31. Notably, the trading volume for ePlus was recorded at 117,483 shares, which is lower than its average volume of 209,293 shares. The stock has experienced a 52-week low of $67.09 and a high of $106.98, indicating some volatility. ePlus boasts a market capitalization of $1.88 billion, a price-to-earnings ratio of 17.94, and a PEG ratio of 1.65. Additionally, the stock's beta is 1.10, suggesting it is somewhat more volatile than the overall market. Current moving averages show a 50-day average price at $76.48 and a 200-day average price at $86.21. Financial ratios indicate a debt-to-equity ratio of 0.01, a current ratio of 1.83, and a quick ratio of 1.71.

On February 5th, ePlus reported its quarterly earnings, revealing earnings per share (EPS) of $0.91, which fell short of the expected EPS of $1.28 by $0.37. The company achieved a return on equity of 11.23% and a net margin of 4.93%. Analysts forecast that ePlus will achieve an EPS of 4.26 for the current fiscal year.

Institutional Investor Activity

Recent changes have occurred among institutional investors holding ePlus stock. Smartleaf Asset Management LLC significantly increased its stake by 91.1% during the fourth quarter, acquiring a total of 342 shares worth $25,000 after adding 163 shares. Also in the third quarter, Larson Financial Group LLC expanded its holdings dramatically by 6,140%, now owning 312 shares valued at $31,000. Other notable increases include Jones Financial Companies Lllp with a 256.8% increase, Quarry LP with a 1,000% increase, and GAMMA Investing LLC, which raised its stake by 203.2%. Altogether, institutional investors own approximately 93.80% of ePlus’s stock.

About ePlus Inc.

ePlus Inc. operates, along with its subsidiaries, in providing information technology (IT) solutions designed to optimize IT environments and supply chain processes for organizations both in the United States and internationally. The company operates through two segments: Technology and Financing. The Technology segment delivers a variety of services including hardware, software solutions (both perpetual and subscription), maintenance, managed services, consulting, and security services. This wide array of offerings makes ePlus a versatile player in the IT solutions market.

Conclusion

This recent upgrade to a "buy" rating by StockNews.com suggests a positive outlook for ePlus, reflecting analyst confidence in the company’s ability to perform well in the future. Investors may want to keep an eye on the stock's performance following this upgrade.

ePlus, upgrade, stock