ePlus (NASDAQ:PLUS) Issues Earnings Results

ePlus (NASDAQ:PLUS) issued its quarterly earnings data on Thursday. The software maker reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02, FiscalAI reports. ePlus had a return on equity of 12.06% and a net margin of 5.63%.The firm had revenue of $576.17 million for the quarter, compared to analyst estimates of $569.25 million.

ePlus Price Performance

NASDAQ:PLUS traded down $0.54 during trading hours on Thursday, hitting $88.65. The company’s stock had a trading volume of 317,911 shares, compared to its average volume of 175,390. The stock has a fifty day simple moving average of $81.80 and a 200-day simple moving average of $84.62. The company has a market capitalization of $2.34 billion, a P/E ratio of 17.62, a PEG ratio of 0.95 and a beta of 1.04. ePlus has a twelve month low of $62.11 and a twelve month high of $93.98.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PLUS shares. Wall Street Zen lowered ePlus from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research lowered ePlus from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings lowered ePlus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Insiders Place Their Bets

In related news, COO Darren S. Raiguel sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $89.95, for a total value of $89,950.00. Following the sale, the chief operating officer directly owned 55,748 shares of the company’s stock, valued at $5,014,532.60. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 1,289 shares of company stock valued at $115,757 over the last quarter. Company insiders own 1.93% of the company’s stock.

Hedge Funds Weigh In On ePlus

Large investors have recently bought and sold shares of the company. Captrust Financial Advisors bought a new position in ePlus in the fourth quarter valued at about $230,000. Elevation Point Wealth Partners LLC bought a new position in ePlus in the fourth quarter valued at about $206,000. Bank of Montreal Can bought a new position in ePlus in the fourth quarter valued at about $206,000. Janney Montgomery Scott LLC bought a new position in ePlus in the fourth quarter valued at about $233,000. Finally, O Shaughnessy Asset Management LLC bought a new position in ePlus in the fourth quarter valued at about $229,000. 93.80% of the stock is currently owned by institutional investors.

ePlus Company Profile

ePlus Inc (NASDAQ:PLUS) is a technology solutions provider that helps enterprises and public-sector organizations maximize the value of their information technology investments. The company specializes in designing, implementing and managing complex IT infrastructures, with a focus on security, cloud computing, data center modernization and unified communications. By combining consulting services with software license management and hardware procurement, ePlus delivers end-to-end solutions that align with its clients’ strategic objectives.

The company’s offerings include cybersecurity assessments and managed security services, hybrid and public cloud deployments, network architecture and optimization, and collaboration platforms.