ePlus Inc. (NASDAQ:PLUS) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 96,545 shares, an increase of 9.6% from the February 28th total of 88,088 shares. Based on an average daily volume of 34,691 shares, the short-interest ratio is presently 2.8 days.
PLUS has been the subject of a number of recent analyst reports. Canaccord Genuity restated a “buy” rating and issued a $7.31 price objective on shares of ePlus in a report on Tuesday, January 10th. Zacks Investment Research upgraded shares of ePlus from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Friday, February 10th.
In other ePlus news, CFO Elaine D. Marion sold 2,500 shares of ePlus stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $121.77, for a total transaction of $304,425.00. Following the sale, the chief financial officer now directly owns 44,352 shares of the company’s stock, valued at approximately $5,400,743.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.20% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in ePlus by 29.9% in the third quarter. Victory Capital Management Inc. now owns 1,861 shares of the software maker’s stock valued at $176,000 after buying an additional 428 shares in the last quarter. 1st Global Advisors Inc. purchased a new stake in ePlus during the third quarter valued at about $234,000. Princeton Alpha Management LP purchased a new stake in ePlus during the third quarter valued at about $269,000. Campbell Newman Asset Management Inc. boosted its stake in ePlus by 13.7% in the first quarter. Campbell Newman Asset Management Inc. now owns 2,039 shares of the software maker’s stock valued at $275,000 after buying an additional 246 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in ePlus by 17.2% in the third quarter. Arizona State Retirement System now owns 3,400 shares of the software maker’s stock valued at $321,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 85.77% of the company’s stock.
ePlus (NASDAQ:PLUS) traded up 2.89% during midday trading on Thursday, hitting $67.55. The stock had a trading volume of 105,159 shares. The firm has a market capitalization of $956.51 million, a P/E ratio of 19.19 and a beta of 1.19. ePlus has a 52-week low of $36.18 and a 52-week high of $70.50. The firm has a 50-day moving average of $108.66 and a 200 day moving average of $108.90.
ePlus (NASDAQ:PLUS) last posted its earnings results on Thursday, February 2nd. The software maker reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.09. ePlus had a net margin of 3.86% and a return on equity of 16.23%. The firm earned $326.66 million during the quarter, compared to the consensus estimate of $325 million. On average, equities analysts forecast that ePlus will post $3.63 EPS for the current year.
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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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