ePlus (NASDAQ:PLUS) Issues Quarterly Earnings Results

ePlus (NASDAQ:PLUS) released its quarterly earnings data on Thursday. The software maker reported $1.00 EPS for the quarter, beating the consensus estimate 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 company had revenue of $576.17 million for the quarter, compared to analyst estimates of $569.25 million.

ePlus Stock Performance

Shares of NASDAQ PLUS traded down $0.54 during midday trading on Thursday, reaching $88.65. 318,032 shares of the company’s stock were exchanged, compared to its average volume of 175,932. ePlus has a 52-week low of $62.11 and a 52-week high of $93.98. The stock has a market capitalization of $2.34 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 0.95 and a beta of 1.04. The business’s fifty day moving average price is $81.80 and its two-hundred day moving average price is $84.62.

Insider Activity

In other news, COO Darren S. Raiguel sold 1,000 shares of ePlus stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $89.95, for a total transaction of $89,950.00. Following the sale, the chief operating officer directly owned 55,748 shares of the company’s stock, valued at approximately $5,014,532.60. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,289 shares of company stock worth $115,757 over the last 90 days. 1.93% of the stock is currently owned by insiders.

Institutional Trading of ePlus

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Amundi increased its holdings in ePlus by 333.0% in the first quarter. Amundi now owns 5,361 shares of the software maker’s stock valued at $313,000 after buying an additional 4,123 shares during the last quarter. AQR Capital Management LLC increased its holdings in ePlus by 20.4% in the first quarter. AQR Capital Management LLC now owns 45,612 shares of the software maker’s stock valued at $2,784,000 after buying an additional 7,742 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in ePlus by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,666 shares of the software maker’s stock valued at $956,000 after buying an additional 687 shares during the last quarter. Millennium Management LLC increased its holdings in ePlus by 103.1% in the first quarter. Millennium Management LLC now owns 226,399 shares of the software maker’s stock valued at $13,817,000 after buying an additional 114,900 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in ePlus by 628.3% in the first quarter. Jones Financial Companies Lllp now owns 3,066 shares of the software maker’s stock valued at $187,000 after buying an additional 2,645 shares during the last quarter. 93.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.