ePlus Inc. (PLUS) Trading 5% Higher
Shares of ePlus Inc. (NASDAQ:PLUS) traded up 5% on Friday . The company traded as high as $89.66 and last traded at $88.96, with a volume of 159,212 shares trading hands. The stock had previously closed at $84.71.
A number of analysts recently weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $100.00 price target on shares of ePlus in a research report on Thursday, May 26th. Sidoti reiterated a “buy” rating and issued a $106.00 price target (down from $110.00) on shares of ePlus in a research report on Thursday, May 26th. Finally, Zacks Investment Research upgraded shares of ePlus from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 27th.
The company has a market cap of $633.76 million and a PE ratio of 14.00. The company has a 50 day moving average of $83.95 and a 200 day moving average of $81.64.
ePlus (NASDAQ:PLUS) last issued its earnings results on Wednesday, May 25th. The company reported $1.46 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 analyst estimates of $284.62 million. Analysts anticipate that ePlus Inc. will post $6.51 earnings per share for the current fiscal year.
In other news, COO Mark P. Marron sold 4,900 shares of the business’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $85.00, for a total transaction of $416,500.00. Following the sale, the chief operating officer now directly owns 58,938 shares in the company, valued at $5,009,730. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Phillip G. Norton sold 1,500 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was 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 $3,193,689.04. 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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