ePlus inc. (PLUS) Expected to Announce Quarterly Sales of $327.55 Million
Brokerages expect ePlus inc. (NASDAQ:PLUS) to report sales of $327.55 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for ePlus inc.’s earnings, with the highest sales estimate coming in at $331.90 million and the lowest estimate coming in at $323.20 million. ePlus inc. reported sales of $298.50 million in the same quarter last year, which suggests a positive year over year growth rate of 9.7%. The firm is scheduled to report its next quarterly earnings report on Tuesday, August 1st.
On average, analysts expect that ePlus inc. will report full-year sales of $327.55 million for the current year, with estimates ranging from $1.44 billion to $1.49 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.57 billion per share, with estimates ranging from $1.54 billion to $1.60 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow ePlus inc..
PLUS has been the subject of a number of analyst reports. Zacks Investment Research raised shares of ePlus inc. from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Saturday, April 22nd. ValuEngine lowered shares of ePlus inc. from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.31.
In other news, Director Eric D. Hovde sold 35,774 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $78.60, for a total value of $2,811,836.40. Following the completion of the sale, the director now directly owns 74,163 shares of the company’s stock, valued at $5,829,211.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Phillip G. Norton sold 20,880 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $79.04, for a total transaction of $1,650,355.20. The disclosure for this sale can be found here. Insiders sold 70,103 shares of company stock valued at $5,491,451 over the last three months. 8.20% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Elkfork Partners LLC raised its stake in ePlus inc. by 160.0% in the first quarter. Elkfork Partners LLC now owns 884 shares of the software maker’s stock worth $119,000 after buying an additional 544 shares during the period. Palo Capital Inc. bought a new stake in ePlus inc. during the first quarter worth about $203,000. Mason Street Advisors LLC raised its stake in ePlus inc. by 7.0% in the first quarter. Mason Street Advisors LLC now owns 1,540 shares of the software maker’s stock worth $208,000 after buying an additional 101 shares during the period. Victory Capital Management Inc. raised its stake in ePlus inc. by 15.2% in the first quarter. Victory Capital Management Inc. now owns 1,649 shares of the software maker’s stock worth $223,000 after buying an additional 218 shares during the period. Finally, KCG Holdings Inc. bought a new stake in ePlus inc. during the first quarter worth about $228,000. 47.85% of the stock is owned by institutional investors and hedge funds.
Shares of ePlus inc. (NASDAQ:PLUS) opened at 74.50 on Friday. The stock has a market capitalization of $1.05 billion, a P/E ratio of 20.69 and a beta of 1.37. ePlus inc. has a one year low of $63.76 and a one year high of $141.00. The stock’s 50 day moving average is $75.06 and its 200-day moving average is $102.02.
ePlus inc. Company Profile
ePlus inc. is a holding company. The Company is engaged in the business of selling, leasing, financing and managing information technology. It operates through two segments: technology and financing. The technology segment sells information technology (IT) hardware products, third-party software and maintenance contracts, its own and third-party professional and managed services, and its software.
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