$378.95 Million in Sales Expected for ePlus Inc. (PLUS) This Quarter

Brokerages expect ePlus Inc. (NASDAQ:PLUS) to post $378.95 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for ePlus’ earnings, with estimates ranging from $373.80 million to $384.10 million. ePlus reported sales of $370.85 million in the same quarter last year, which indicates a positive year over year growth rate of 2.2%. 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 $1.44 billion for the current financial year, with estimates ranging from $1.43 billion to $1.46 billion. For the next financial year, analysts anticipate that the business will report sales of $1.52 billion, with estimates ranging from $1.49 billion to $1.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover ePlus.

ePlus (NASDAQ:PLUS) last issued its quarterly earnings results on Wednesday, August 8th. The software maker reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.11. ePlus had a return on equity of 16.05% and a net margin of 4.07%. The company had revenue of $356.53 million during the quarter, compared to analysts’ expectations of $346.55 million.

PLUS has been the subject of several analyst reports. ValuEngine cut ePlus from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Stifel Nicolaus reissued a “neutral” rating and issued a $100.00 price objective on shares of ePlus in a report on Friday, August 10th. BidaskClub cut ePlus from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Finally, Zacks Investment Research cut ePlus from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. ePlus has an average rating of “Sell” and a consensus target price of $107.00.

In related news, Director Lawrence S. Herman sold 500 shares of ePlus stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $102.43, for a total value of $51,215.00. Following the completion of the transaction, the director now owns 11,552 shares in the company, valued at approximately $1,183,271.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric D. Hovde sold 5,000 shares of ePlus stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $101.75, for a total value of $508,750.00. Following the completion of the transaction, the director now owns 29,019 shares of the company’s stock, valued at approximately $2,952,683.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,794 shares of company stock valued at $4,750,250. 2.72% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of ePlus in the 2nd quarter valued at about $123,000. Itau Unibanco Holding S.A. purchased a new position in shares of ePlus in the 2nd quarter valued at about $161,000. Amalgamated Bank purchased a new stake in ePlus during the 2nd quarter worth approximately $209,000. MAI Capital Management purchased a new stake in ePlus during the 2nd quarter worth approximately $210,000. Finally, Van Hulzen Asset Management LLC purchased a new stake in ePlus during the 2nd quarter worth approximately $217,000. Hedge funds and other institutional investors own 91.87% of the company’s stock.

Shares of PLUS stock opened at $87.46 on Thursday. The stock has a market capitalization of $1.27 billion, a PE ratio of 20.68 and a beta of 1.19. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.03. ePlus has a 52-week low of $67.65 and a 52-week high of $107.25.

ePlus Company Profile

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.

See Also: Hedge Funds

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Earnings History and Estimates for ePlus (NASDAQ:PLUS)

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