ePlus (NASDAQ:PLUS) Posts Earnings Results, Beats Expectations By $0.58 EPS

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

ePlus Stock Up 15.7%

Shares of NASDAQ PLUS traded up $11.51 during midday trading on Friday, hitting $84.88. 392,608 shares of the company’s stock were exchanged, compared to its average volume of 196,272. ePlus has a 12 month low of $53.83 and a 12 month high of $100.89. The company’s 50 day moving average price is $72.97 and its 200 day moving average price is $70.26. The firm has a market capitalization of $2.26 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 2.18 and a beta of 1.14.

Institutional Investors Weigh In On ePlus

Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC increased its holdings in shares of ePlus by 0.8% in the second quarter. Lazard Asset Management LLC now owns 31,946 shares of the software maker’s stock valued at $2,303,000 after purchasing an additional 266 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of ePlus by 361.9% during the 2nd quarter. Osaic Holdings Inc. now owns 448 shares of the software maker’s stock worth $32,000 after buying an additional 351 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of ePlus by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 24,798 shares of the software maker’s stock worth $1,788,000 after buying an additional 384 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of ePlus by 16.8% during the 2nd quarter. Quantinno Capital Management LP now owns 4,334 shares of the software maker’s stock worth $312,000 after buying an additional 624 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ePlus by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,666 shares of the software maker’s stock valued at $956,000 after buying an additional 687 shares during the last quarter. Institutional investors and hedge funds own 93.80% of the company’s stock.

Analyst Ratings Changes

PLUS has been the topic of several analyst reports. Wall Street Zen raised shares of ePlus from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Zacks Research upgraded ePlus from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of ePlus in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.