ePlus Inc. (PLUS) Stock Price Down 2.6%
ePlus Inc. (NASDAQ:PLUS) shares were down 2.6% during mid-day trading on Thursday . The stock traded as low as $86.93 and last traded at $87.15, with a volume of 53,595 shares. The stock had previously closed at $89.44.
Several research analysts have recently weighed in on the stock. Sidoti reissued a “buy” rating and set a $106.00 price objective (down from $110.00) on shares of ePlus in a report on Thursday, May 26th. Canaccord Genuity reissued a “buy” rating and set a $100.00 price objective on shares of ePlus in a report on Thursday, May 26th. Finally, Zacks Investment Research cut shares of ePlus from a “hold” rating to a “sell” rating in a report on Friday, May 27th.
The firm’s 50-day moving average is $83.22 and its 200-day moving average is $81.97. The company has a market capitalization of $618.15 million and a PE ratio of 13.66.
ePlus (NASDAQ:PLUS) last issued its earnings results on Wednesday, May 25th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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. Equities analysts anticipate 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 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 directly owns 38,702 shares in the company, valued at approximately $3,193,689.04. The sale was disclosed in a document filed 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 stock was sold at an average price of $85.10, for a total transaction of $604,210.00. Following the transaction, the chief operating officer now owns 63,838 shares in the company, valued at $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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