ePlus Inc. (PLUS) Shares Down 2.6%
ePlus Inc. (NASDAQ:PLUS)’s share price was down 2.6% during mid-day trading on Thursday . The company traded as low as $86.93 and last traded at $87.15, with a volume of 53,595 shares traded. The stock had previously closed at $89.44.
A number of equities analysts recently issued reports on PLUS shares. Sidoti reiterated a “buy” rating and set a $106.00 price objective (down from $110.00) on shares of ePlus in a research report on Thursday, May 26th. Canaccord Genuity reiterated a “buy” rating and set a $100.00 price objective on shares of ePlus in a research report on Thursday, May 26th. Finally, Zacks Investment Research cut shares of ePlus from a “hold” rating to a “sell” rating in a research report on Friday, May 27th.
The stock’s 50-day moving average is $83.28 and its 200 day moving average is $81.93. The firm has a market capitalization of $614.89 million and a PE ratio of 13.59.
ePlus (NASDAQ:PLUS) last issued its earnings results on Wednesday, May 25th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.25. The business had revenue of $299.40 million for the quarter, compared to the consensus estimate of $284.62 million. On average, equities analysts predict that ePlus Inc. will post $6.51 earnings per share for the current year.
In other ePlus news, 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 transaction of $123,780.00. Following the completion of the transaction, the chief executive officer now owns 38,702 shares in the company, valued at $3,193,689.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce M. Bowen sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $87.61, for a total transaction of $438,050.00. 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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