ePlus Inc. (PLUS) Trading 4.2% Higher
ePlus Inc. (NASDAQ:PLUS) traded up 4.2% on Monday . The stock traded as high as $88.60 and last traded at $88.49, with a volume of 78,490 shares trading hands. The stock had previously closed at $84.96.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of ePlus from a “hold” rating to a “sell” rating in a research note on Friday, May 27th. Sidoti reissued a “buy” rating and issued a $106.00 target price (down previously from $110.00) on shares of ePlus in a research note on Thursday, May 26th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $100.00 target price on shares of ePlus in a research note on Thursday, May 26th.
The company has a 50-day moving average of $82.86 and a 200-day moving average of $81.91. The company has a market cap of $625.82 million and a P/E ratio of 13.83.
ePlus (NASDAQ:PLUS) last released its quarterly earnings results on Wednesday, May 25th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts forecast that ePlus Inc. will post $6.49 earnings per share for the current fiscal year.
In other ePlus news, COO Mark P. Marron sold 4,900 shares of ePlus stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $85.00, for a total transaction of $416,500.00. Following the sale, the chief operating officer now owns 58,938 shares of the company’s stock, valued at approximately $5,009,730. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Phillip G. Norton sold 1,500 shares of ePlus stock in a transaction on Friday, July 8th. The stock was sold at an average price of $82.52, for a total transaction of $123,780.00. Following the sale, the chief executive officer now directly owns 38,702 shares in the company, valued at approximately $3,193,689.04. The disclosure for this sale can be found here.
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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