ePlus (NASDAQ:PLUS) Issues Quarterly Earnings Results

ePlus (NASDAQ:PLUS) posted its quarterly earnings data on Thursday. The software maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.58, FiscalAI reports. The company had revenue of $608.83 million during the quarter, compared to analysts’ expectations of $518.30 million. ePlus had a return on equity of 11.03% and a net margin of 5.47%.

ePlus Stock Performance

PLUS traded up $11.51 on Friday, hitting $84.88. 392,608 shares of the company were exchanged, compared to its average volume of 196,272. The business’s fifty day moving average is $72.97 and its 200 day moving average is $70.26. ePlus has a fifty-two week low of $53.83 and a fifty-two week high of $100.89. The firm has a market capitalization of $2.26 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 2.18 and a beta of 1.14.

Institutional Trading of ePlus

Several large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its stake in shares of ePlus by 138.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 204,857 shares of the software maker’s stock worth $14,770,000 after buying an additional 118,874 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of 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 purchasing an additional 114,900 shares in the last quarter. Jane Street Group LLC grew its position in shares of ePlus by 1,986.6% in the first quarter. Jane Street Group LLC now owns 103,348 shares of the software maker’s stock valued at $6,307,000 after purchasing an additional 98,395 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of ePlus during the 2nd quarter worth approximately $2,143,000. Finally, AQR Capital Management LLC increased its stake in shares of ePlus by 56.5% during the 2nd quarter. AQR Capital Management LLC now owns 71,399 shares of the software maker’s stock worth $5,148,000 after purchasing an additional 25,787 shares in the last quarter. Institutional investors and hedge funds own 93.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Zacks Research raised ePlus from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ePlus in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of ePlus from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

About ePlus

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.