ePlus (NASDAQ:PLUS) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

ePlus inc. (NASDAQ:PLUS)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $83.03 and traded as high as $89.53. ePlus shares last traded at $89.27, with a volume of 179,522 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Zacks Research lowered shares of ePlus from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 17th. Wall Street Zen cut shares of ePlus from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ePlus in a research report on Friday, July 10th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ePlus has an average rating of “Reduce”.

ePlus Stock Up 1.7%

The stock has a 50-day moving average of $83.72 and a 200 day moving average of $83.03. The company has a market capitalization of $2.49 billion, a PE ratio of 18.44, a P/E/G ratio of 1.18 and a beta of 1.02.

ePlus (NASDAQ:PLUS) last posted its quarterly earnings data on Thursday, May 28th. The software maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $581.63 million for the quarter, compared to analysts’ expectations of $569.25 million. ePlus had a return on equity of 11.36% and a net margin of 5.24%. Equities analysts forecast that ePlus inc. will post 4.66 EPS for the current fiscal year.

ePlus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 17th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, June 17th. This is a positive change from ePlus’s previous quarterly dividend of $0.25. ePlus’s dividend payout ratio (DPR) is presently 22.31%.

Insider Buying and Selling at ePlus

In related news, COO Darren S. Raiguel sold 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $89.95, for a total value of $89,950.00. Following the transaction, the chief operating officer directly owned 55,748 shares of the company’s stock, valued at approximately $5,014,532.60. The trade was a 1.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 1,289 shares of company stock valued at $115,757. 1.93% of the stock is currently owned by insiders.

Institutional Trading of ePlus

Large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its stake in ePlus by 361.9% in the second quarter. Osaic Holdings Inc. now owns 448 shares of the software maker’s stock valued at $32,000 after acquiring an additional 351 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of ePlus by 30.8% during the 4th quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock worth $79,000 after purchasing an additional 213 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of ePlus in the 4th quarter worth approximately $108,000. US Bancorp DE raised its holdings in shares of ePlus by 856.4% in the 3rd quarter. US Bancorp DE now owns 1,731 shares of the software maker’s stock worth $123,000 after purchasing an additional 1,550 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ePlus in the fourth quarter valued at approximately $138,000. Hedge funds and other institutional investors own 93.80% of the company’s stock.

ePlus Company Profile

ePlus Inc (NASDAQ:PLUS) is a technology solutions provider that helps enterprises and public-sector organizations maximize the value of their information technology investments. The company specializes in designing, implementing and managing complex IT infrastructures, with a focus on security, cloud computing, data center modernization and unified communications. By combining consulting services with software license management and hardware procurement, ePlus delivers end-to-end solutions that align with its clients’ strategic objectives.

The company’s offerings include cybersecurity assessments and managed security services, hybrid and public cloud deployments, network architecture and optimization, and collaboration platforms.