ePlus (NASDAQ:PLUS) Hits New 52-Week High - Still a Buy?

Key Points

• ePlus hit a new 52-week high, reaching $98.92 before trading at $97.72, up from its prior close of $96.61.
• The company beat quarterly expectations, reporting EPS of $1.82 versus $1.47 consensus and revenue of $667.92 million versus estimates of $636.10 million.
• Analysts’ average rating remains Hold; ePlus also declared a $0.27 quarterly dividend, while company insiders have recently sold shares.

ePlus inc. (NASDAQ:PLUS - Get Free Report)'s stock price hit a new 52-week high on Wednesday. The company traded as high as $98.92 and last traded at $97.72, with a volume of 26,580 shares. The stock had previously closed at $96.61.

Analyst Upgrades and Downgrades

PLUS has been the topic of several recent research reports. Zacks Research upgraded shares of ePlus from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Weiss Ratings reiterated a "hold (c+)" rating on shares of ePlus in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, ePlus presently has an average rating of "Hold".

ePlus Stock Up 1.9%

The firm has a 50-day moving average of $92.23 and a two-hundred day moving average of $85.89. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 1.39 and a beta of 0.95.

ePlus (NASDAQ:PLUS - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The software maker reported $1.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.35. ePlus had a net margin of 5.02% and a return on equity of 11.93%. The business had revenue of $667.92 million during the quarter, compared to analyst estimates of $636.10 million. As a group, sell-side analysts predict that ePlus inc. will post 4.86 EPS for the current year.

ePlus Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Tuesday, November 24th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, November 24th. ePlus's payout ratio is currently 22.45%.

Insider Transactions at ePlus

In other ePlus news, COO Darren S. Raiguel sold 1,000 shares of the company's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $94.68, for a total value of $94,680.00. Following the transaction, the chief operating officer directly owned 65,036 shares of the company's stock, valued at $6,157,608.48. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elaine D. Marion sold 4,842 shares of the firm's stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $96.33, for a total value of $466,429.86. Following the sale, the chief financial officer directly owned 79,259 shares of the company's stock, valued at $7,635,019.47. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 8,500 shares of company stock valued at $804,805. 2.20% of the stock is owned by insiders.

Institutional Trading of ePlus

Institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust boosted its stake in shares of ePlus by 2,104.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 507 shares of the software maker's stock worth $42,000 after acquiring an additional 484 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of ePlus in the 2nd quarter valued at approximately $51,000. GAMMA Investing LLC lifted its holdings in ePlus by 19.3% in the 3rd quarter. GAMMA Investing LLC now owns 940 shares of the software maker's stock worth $85,000 after purchasing an additional 152 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in ePlus by 13,366.7% in the 3rd quarter. Fortitude Family Office LLC now owns 1,212 shares of the software maker's stock worth $109,000 after purchasing an additional 1,203 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in ePlus by 1,835.4% during the third quarter. Parallel Advisors LLC now owns 1,529 shares of the software maker's stock worth $138,000 after purchasing an additional 1,450 shares during the period. 93.80% of the stock is currently owned by institutional investors and hedge funds.

ePlus Company Profile

ePlus inc. is a technology solutions provider that helps businesses and public-sector organizations plan, acquire, implement and manage information technology. Its offerings include data center and cloud infrastructure, networking, cybersecurity, collaboration tools, software and related professional and managed services. The company also provides financing solutions for technology purchases, including leasing and other equipment financing arrangements. Founded in 1990, ePlus serves customers across the United States and the United Kingdom.

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