ePlus (NASDAQ:PLUS) Sets New 1-Year High – Here’s Why

ePlus inc. (NASDAQ:PLUS)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $106.98 and last traded at $99.63, with a volume of 9464 shares. The stock had previously closed at $89.80.

Analysts Set New Price Targets

Separately, StockNews.com raised ePlus from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th.

ePlus Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.01 and a quick ratio of 1.87. The stock’s fifty day simple moving average is $95.33 and its 200-day simple moving average is $85.44. The company has a market capitalization of $2.63 billion, a P/E ratio of 24.02, a PEG ratio of 1.90 and a beta of 1.13.

ePlus (NASDAQ:PLUS) last posted its earnings results on Tuesday, August 6th. The software maker reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.03). The firm had revenue of $544.54 million during the quarter, compared to the consensus estimate of $555.23 million. ePlus had a return on equity of 12.32% and a net margin of 4.98%. On average, equities analysts forecast that ePlus inc. will post 4.67 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Elaine D. Marion sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $92.19, for a total transaction of $460,950.00. Following the transaction, the chief financial officer now directly owns 64,442 shares in the company, valued at approximately $5,940,907.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ePlus

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in ePlus by 203.2% during the third quarter. GAMMA Investing LLC now owns 376 shares of the software maker’s stock worth $37,000 after buying an additional 252 shares during the last quarter. CWM LLC boosted its stake in ePlus by 1,247.7% in the 2nd quarter. CWM LLC now owns 593 shares of the software maker’s stock worth $44,000 after purchasing an additional 549 shares during the period. Innealta Capital LLC bought a new position in shares of ePlus during the 2nd quarter worth approximately $66,000. EntryPoint Capital LLC boosted its holdings in ePlus by 1,236.7% during the first quarter. EntryPoint Capital LLC now owns 1,056 shares of the software maker’s stock worth $83,000 after purchasing an additional 977 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of ePlus in the 2nd quarter valued at about $156,000. Institutional investors and hedge funds own 93.80% of the company’s stock.

ePlus Company Profile

ePlus inc., together with its subsidiaries, provides information technology (IT) solutions that enable organizations to optimize their IT environment and supply chain processes in the United States and internationally. It operates through two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; managed services or infrastructure and cloud; and enhanced maintenance support, service desk, storage-as-a-service, cloud hosted and managed, and managed security services; and professional, staff augmentation, cloud consulting, consulting, and security services.