ePlus Inc. (PLUS) Sees Large Volume Increase
Shares of ePlus Inc. (NASDAQ:PLUS) saw strong trading volume on Wednesday . 260,050 shares traded hands during trading, an increase of 323% from the previous session’s volume of 61,438 shares.The stock last traded at $82.78 and had previously closed at $80.07.
A number of analysts have commented on the stock. Canaccord Genuity reaffirmed 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 raised shares of ePlus from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. Finally, Sidoti reaffirmed 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 company has a market cap of $601.94 million and a P/E ratio of 13.77. The stock has a 50-day moving average price of $82.87 and a 200-day moving average price of $82.09.
ePlus (NASDAQ:PLUS) last released 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 firm earned $299.40 million during the quarter, compared to analysts’ expectations of $284.62 million. Equities analysts forecast that ePlus Inc. will post $6.21 earnings per share 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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.
A hedge fund recently raised its stake in ePlus stock. Monarch Partners Asset Management LLC increased its position in shares of ePlus Inc. (NASDAQ:PLUS) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,925 shares of the company’s stock after buying an additional 800 shares during the period. Monarch Partners Asset Management LLC owned about 0.23% of ePlus worth $1,578,000 at the end of the most recent quarter.
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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