ePlus Inc. (PLUS) Sees Strong Trading Volume
ePlus Inc. (NASDAQ:PLUS) saw unusually-strong trading volume on Monday . Approximately 122,426 shares were traded during trading, an increase of 43% from the previous session’s volume of 85,493 shares.The stock last traded at $89.39 and had previously closed at $89.35.
A number of research analysts recently issued reports on PLUS shares. Zacks Investment Research downgraded ePlus from a “hold” rating to a “sell” rating in a report on Friday, May 27th. Canaccord Genuity reiterated a “buy” rating and set a $100.00 target price on shares of ePlus in a report on Thursday, May 26th. Finally, Sidoti reiterated a “buy” rating and set a $106.00 target price (down previously from $110.00) on shares of ePlus in a report on Thursday, May 26th.
The stock has a market cap of $643.19 million and a PE ratio of 14.21. The firm has a 50-day moving average price of $84.22 and a 200-day moving average price of $81.47.
ePlus (NASDAQ:PLUS) last announced its quarterly earnings results on Wednesday, May 25th. The company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.25. The business earned $299.40 million during the quarter, compared to the consensus estimate of $284.62 million. Analysts expect that ePlus Inc. will post $6.51 earnings per share for the current fiscal year.
In related news, CFO Elaine D. Marion sold 3,500 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $85.80, for a total value of $300,300.00. Following the completion of the transaction, the chief financial officer now owns 54,852 shares of the company’s stock, valued at approximately $4,706,301.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mark P. Marron sold 7,100 shares of the stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $85.10, for a total transaction of $604,210.00. Following the completion of the transaction, the chief operating officer now directly owns 63,838 shares of the company’s stock, valued at approximately $5,432,613.80. 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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