ePlus Inc. (PLUS) Shares Down 1.4%
ePlus Inc. (NASDAQ:PLUS) was down 1.4% during mid-day trading on Tuesday . The company traded as low as $85.54 and last traded at $89.43, with a volume of 67,531 shares traded. The stock had previously closed at $90.68.
A number of equities research analysts have weighed in on the company. Canaccord Genuity restated a “buy” rating and set a $100.00 price target on shares of ePlus in a research report on Thursday, May 26th. Zacks Investment Research upgraded ePlus from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Finally, Sidoti restated a “buy” rating and set a $106.00 price target (down previously from $110.00) on shares of ePlus in a research report on Thursday, May 26th.
The stock has a market cap of $634.33 million and a price-to-earnings ratio of 14.02. The firm’s 50 day moving average price is $84.36 and its 200-day moving average price is $81.57.
ePlus (NASDAQ:PLUS) last announced its quarterly earnings results on Wednesday, May 25th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.21 by $0.25. The company earned $299.40 million during the quarter, compared to analysts’ expectations of $284.62 million. Analysts forecast that ePlus Inc. will post $6.51 EPS for the current fiscal year.
In other ePlus news, CEO Phillip G. Norton sold 1,500 shares of the business’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $82.52, for a total value of $123,780.00. Following the sale, the chief executive officer now owns 38,702 shares in the company, valued at approximately $3,193,689.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce M. Bowen sold 5,000 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was 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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