ePlus Inc. (NASDAQ:PLUS) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 201,100 shares, a decline of 24.7% from the August 30th total of 267,000 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 108,500 shares, the days-to-cover ratio is currently 1.9 days.
Shares of ePlus stock traded up $2.10 during midday trading on Friday, reaching $76.74. 86,929 shares of the company’s stock traded hands, compared to its average volume of 94,852. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.39 and a current ratio of 1.54. The company has a market cap of $1.00 billion, a PE ratio of 14.99 and a beta of 1.28. The stock has a 50 day moving average of $78.74 and a 200-day moving average of $80.03. ePlus has a 12 month low of $65.52 and a 12 month high of $95.81.
ePlus (NASDAQ:PLUS) last announced its earnings results on Wednesday, August 7th. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. The company had revenue of $381.37 million during the quarter, compared to the consensus estimate of $355.15 million. ePlus had a return on equity of 16.10% and a net margin of 4.59%. On average, equities analysts anticipate that ePlus will post 4.18 earnings per share for the current fiscal year.
In other ePlus news, Director Lawrence S. Herman sold 600 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $75.60, for a total value of $45,360.00. Following the completion of the sale, the director now owns 9,549 shares in the company, valued at $721,904.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.59% of the company’s stock.
Several institutional investors have recently made changes to their positions in PLUS. Tower Research Capital LLC TRC raised its holdings in shares of ePlus by 357.8% during the second quarter. Tower Research Capital LLC TRC now owns 760 shares of the software maker’s stock valued at $52,000 after acquiring an additional 594 shares in the last quarter. US Bancorp DE raised its holdings in shares of ePlus by 33.2% during the second quarter. US Bancorp DE now owns 754 shares of the software maker’s stock valued at $52,000 after acquiring an additional 188 shares in the last quarter. Bank of Montreal Can raised its holdings in ePlus by 167.9% in the second quarter. Bank of Montreal Can now owns 1,784 shares of the software maker’s stock worth $122,000 after purchasing an additional 1,118 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in ePlus by 7.0% in the second quarter. Zions Bancorporation N.A. now owns 2,308 shares of the software maker’s stock worth $159,000 after purchasing an additional 150 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in ePlus in the second quarter worth $207,000. Institutional investors own 90.08% of the company’s stock.
Several analysts have weighed in on PLUS shares. Sidoti upgraded ePlus from a “neutral” rating to a “buy” rating in a research report on Monday, July 1st. Zacks Investment Research downgraded ePlus from a “hold” rating to a “sell” rating in a research report on Thursday. Berenberg Bank reiterated a “hold” rating and issued a $83.00 price objective on shares of ePlus in a research report on Tuesday, August 13th. ValuEngine upgraded ePlus from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub downgraded ePlus from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. ePlus has a consensus rating of “Hold” and a consensus target price of $85.67.
ePlus Company Profile
ePlus inc., through its subsidiaries, provides information technology solutions that enable organizations to optimize their information technology (IT) environment and supply chain processes in the United States. It operates in two segments, Technology and Financing. The Technology segment offers hardware, software, maintenance, software assurance, and internally-provided and outsourced services; and advanced professional and managed services, including ePlus managed, professional, security, staff augmentation, server and desktop support, and project management services.
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