ePlus Inc. (PLUS) Sees Unusually-High Trading Volume
ePlus Inc. (NASDAQ:PLUS) shares saw strong trading volume on Thursday . 95,823 shares traded hands during 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 equities research analysts recently weighed in on the company. Zacks Investment Research downgraded ePlus from a “hold” rating to a “sell” rating in a research report on Friday, May 27th. Sidoti reissued a “buy” rating and set a $106.00 target price (down from $110.00) on shares of ePlus in a research report on Thursday, May 26th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $100.00 price objective on shares of ePlus in a report on Thursday, May 26th.
The company has a market cap of $585.79 million and a P/E ratio of 13.40. The firm’s 50 day moving average price is $84.45 and its 200-day moving average price is $82.78.
ePlus (NASDAQ:PLUS) last issued its quarterly earnings data 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 business had revenue of $299.40 million for the quarter, compared to analyst estimates of $284.62 million. On average, analysts predict that ePlus Inc. will post $6.20 EPS for the current fiscal year.
In other news, COO Mark P. Marron sold 4,900 shares of ePlus stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $85.00, for a total transaction of $416,500.00. Following the completion of the transaction, the chief operating officer now directly owns 58,938 shares in the company, valued at $5,009,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Phillip G. Norton sold 1,500 shares of ePlus 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 transaction, the chief executive officer now owns 38,702 shares of the company’s stock, valued at $3,193,689.04. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of PLUS. EAM Investors LLC acquired a new position in shares of ePlus during the fourth quarter worth about $1,161,000. Monarch Partners Asset Management LLC boosted its position in 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 period. Nationwide Fund Advisors boosted its position in 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 period. Finally, First Trust Advisors LP boosted its position in 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 period.
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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