ePlus (NASDAQ:PLUS) Issues Quarterly Earnings Results, Beats Estimates By $0.58 EPS

ePlus (NASDAQ:PLUS) released its earnings results on Thursday. The software maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.58, FiscalAI reports. ePlus had a return on equity of 11.03% and a net margin of 5.47%.The firm had revenue of $608.83 million for the quarter, compared to the consensus estimate of $518.30 million.

ePlus Price Performance

NASDAQ PLUS traded up $11.51 during mid-day trading on Friday, hitting $84.88. The company’s stock had a trading volume of 392,608 shares, compared to its average volume of 196,272. 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. ePlus has a 52-week low of $53.83 and a 52-week high of $100.89. The stock’s fifty day simple moving average is $72.97 and its two-hundred day simple moving average is $70.26.

Analyst Ratings Changes

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

Hedge Funds Weigh In On ePlus

Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in shares of ePlus by 361.9% during the 2nd quarter. Osaic Holdings Inc. now owns 448 shares of the software maker’s stock valued at $32,000 after acquiring an additional 351 shares in the last quarter. Jones Financial Companies Lllp raised its position in ePlus by 628.3% in the first quarter. Jones Financial Companies Lllp now owns 3,066 shares of the software maker’s stock valued at $187,000 after purchasing an additional 2,645 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of ePlus by 767.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,211 shares of the software maker’s stock worth $232,000 after purchasing an additional 2,841 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of ePlus by 16.8% during the second quarter. Quantinno Capital Management LP now owns 4,334 shares of the software maker’s stock worth $312,000 after purchasing an additional 624 shares in the last quarter. Finally, Amundi boosted its position in shares of ePlus by 333.0% in the first quarter. Amundi now owns 5,361 shares of the software maker’s stock worth $313,000 after buying an additional 4,123 shares during the period. Hedge funds and other institutional investors own 93.80% of the company’s stock.

ePlus Company Profile

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.