ePlus Inc. (PLUS) Sees Strong Trading Volume
ePlus Inc. (NASDAQ:PLUS) shares saw an uptick in trading volume on Thursday . 95,823 shares were traded during mid-day trading, an increase of 24% from the previous session’s volume of 77,489 shares.The stock last traded at $82.45 and had previously closed at $83.70.
A number of brokerages recently issued reports on PLUS. Zacks Investment Research lowered ePlus from a “hold” rating to a “sell” rating in a research report on Friday, May 27th. Canaccord Genuity reissued a “buy” rating and issued a $100.00 target price on shares of ePlus in a research report on Thursday, May 26th. Finally, Sidoti reissued a “buy” rating and issued a $106.00 target price (down previously from $110.00) on shares of ePlus in a research report on Thursday, May 26th.
The stock has a market cap of $587.58 million and a price-to-earnings ratio of 13.44. The stock’s 50 day moving average price is $84.28 and its 200 day moving average price is $82.71.
ePlus (NASDAQ:PLUS) last issued its quarterly earnings results on Wednesday, May 25th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.25. The company earned $299.40 million during the quarter, compared to analyst estimates of $284.62 million. On average, equities research analysts expect that ePlus Inc. will post $6.20 earnings per share for the current year.
In other news, COO Mark P. Marron sold 4,900 shares of the stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $85.00, for a total value of $416,500.00. Following the completion of the sale, the chief operating officer now owns 58,938 shares of the company’s stock, valued at $5,009,730. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Phillip G. Norton sold 1,500 shares of the stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $82.52, for a total value of $123,780.00. Following the completion of the sale, the chief executive officer now directly owns 38,702 shares of the company’s stock, valued at approximately $3,193,689.04. The disclosure for this sale can be found here.
Several large investors recently modified their holdings of PLUS. First Trust Advisors LP boosted its stake in shares of ePlus by 2,531.5% in the fourth quarter. First Trust Advisors LP now owns 92,234 shares of the company’s stock valued at $8,602,000 after buying an additional 88,729 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of ePlus by 58.7% in the fourth quarter. Nationwide Fund Advisors now owns 38,549 shares of the company’s stock valued at $3,595,000 after buying an additional 14,255 shares during the last quarter. Finally, Monarch Partners Asset Management LLC boosted its stake in shares of ePlus by 5.0% in the fourth quarter. Monarch Partners Asset Management LLC now owns 16,925 shares of the company’s stock valued at $1,578,000 after buying an additional 800 shares during the last quarter.
ePlus inc. is an integrator of technology solutions for information technology (IT) lifecycle management. The Company is engaged in selling, leasing, financing, and managing information technology and other assets. The Company operates in two segments: technology and financing. The Company’s technology segment includes sales of information technology products, third-party software, third-party maintenance, advanced professional and managed services and its software to commercial, state and local governments and government contractors.
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