Brokerages expect ePlus Inc. (NASDAQ:PLUS) to post sales of $379.40 million for the current quarter, Zacks reports. Two analysts have made estimates for ePlus’ earnings, with the highest sales estimate coming in at $384.10 million and the lowest estimate coming in at $374.70 million. ePlus reported sales of $370.85 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The business is expected to announce its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that ePlus will report full year sales of $1.45 billion for the current financial year, with estimates ranging from $1.44 billion to $1.46 billion. For the next year, analysts anticipate that the firm will post sales of $1.53 billion per share, with estimates ranging from $1.52 billion to $1.55 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow ePlus.
ePlus (NASDAQ:PLUS) last issued its quarterly earnings results on Wednesday, August 8th. The software maker reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. ePlus had a net margin of 4.07% and a return on equity of 16.05%. The business had revenue of $356.53 million for the quarter, compared to the consensus estimate of $346.55 million.
Several equities analysts have weighed in on PLUS shares. Stifel Nicolaus lifted their price target on shares of ePlus from $80.00 to $85.00 and gave the company a “hold” rating in a report on Friday, May 25th. ValuEngine downgraded shares of ePlus from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. BidaskClub downgraded shares of ePlus from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 30th. Finally, Zacks Investment Research raised shares of ePlus from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Wednesday, July 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $107.00.
NASDAQ:PLUS traded down $3.90 during trading hours on Friday, hitting $95.20. 51,300 shares of the stock traded hands, compared to its average volume of 79,631. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.65 and a quick ratio of 1.50. ePlus has a 1 year low of $67.65 and a 1 year high of $107.25. The company has a market capitalization of $1.40 billion, a P/E ratio of 22.56 and a beta of 1.15.
In other news, CEO Mark P. Marron sold 20,000 shares of ePlus stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $100.99, for a total transaction of $2,019,800.00. Following the sale, the chief executive officer now owns 99,752 shares in the company, valued at $10,073,954.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Darren S. Raiguel sold 2,824 shares of ePlus stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $102.82, for a total transaction of $290,363.68. Following the sale, the chief operating officer now owns 32,409 shares in the company, valued at approximately $3,332,293.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,794 shares of company stock worth $4,750,250. Company insiders own 2.72% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PLUS. Acadian Asset Management LLC bought a new stake in shares of ePlus during the second quarter valued at approximately $123,000. Itau Unibanco Holding S.A. bought a new stake in shares of ePlus during the second quarter valued at approximately $161,000. SG Americas Securities LLC bought a new stake in shares of ePlus during the first quarter valued at approximately $171,000. Amalgamated Bank bought a new stake in shares of ePlus during the second quarter valued at approximately $209,000. Finally, MAI Capital Management bought a new stake in shares of ePlus during the second quarter valued at approximately $210,000. Hedge funds and other institutional investors own 91.88% of the company’s stock.
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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