ePlus (NASDAQ:PLUS) Posts Quarterly Earnings Results, Beats Expectations By $0.58 EPS
ePlus (NASDAQ:PLUS) reported quarterly earnings of $1.53 per share, exceeding analysts' expectations of $0.95 by $0.58. The company generated revenue of $608.83 million, surpassing the forecast of $518.30 million. ePlus shares rose 15.7% to $84.88 following the announcement. Analysts have mixed ratings on the stock, with some upgrading it to 'buy' and others maintaining a 'hold' rating. Hedge funds own 93.80% of ePlus, indicating strong institutional interest.
ePlus (NASDAQ:PLUS - Get Free Report) announced its quarterly earnings results on Thursday. The software maker reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.58, FiscalAI reports. The company had revenue of $608.83 million during the quarter, compared to analysts' expectations of $518.30 million. ePlus had a return on equity of 11.03% and a net margin of 5.47%.
ePlus Trading Up 15.7%
Shares of ePlus stock traded up $11.51 on Friday, hitting $84.88. 392,608 shares of the company traded hands, compared to its average volume of 196,272. The firm's 50-day simple moving average is $72.97 and its 200 day simple moving average is $70.19. ePlus has a 12-month low of $53.83 and a 12-month high of $100.89. The company has a market cap of $2.26 billion, a P/E ratio of 19.03, a P/E/G ratio of 2.18 and a beta of 1.14.
Wall Street Analyst Weigh In
Several analysts recently weighed in on PLUS shares. Weiss Ratings reissued a "hold (c+)" rating on shares of ePlus in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of ePlus from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. Finally, Zacks Research upgraded shares of ePlus from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold".
Read Our Latest Analysis on PLUS
Hedge Funds Weigh In On ePlus
A number of hedge funds have recently modified their holdings of PLUS. Osaic Holdings Inc. raised its stake in ePlus by 361.9% in the second quarter. Osaic Holdings Inc. now owns 448 shares of the software maker's stock worth $32,000 after buying an additional 351 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of ePlus by 628.3% in the 1st quarter. Jones Financial Companies Lllp now owns 3,066 shares of the software maker's stock worth $187,000 after buying an additional 2,645 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 valued at $232,000 after acquiring an additional 2,841 shares in the last quarter. Quantinno Capital Management LP increased its stake in ePlus by 16.8% during the 2nd quarter. Quantinno Capital Management LP now owns 4,334 shares of the software maker's stock valued at $312,000 after purchasing an additional 624 shares in the last quarter. Finally, State of Wyoming increased its holdings in shares of ePlus by 123.5% in the 2nd quarter. State of Wyoming now owns 4,418 shares of the software maker's stock worth $319,000 after purchasing an additional 2,441 shares in the last quarter. Hedge funds and other institutional investors own 93.80% of the company's stock.
About ePlus
(Get Free Report)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.
Further Reading
- Five stocks we like better than ePlus
- Find and Profitably Trade Stocks at 52-Week Lows
- Rivian’s Chart Says Go, But Some Analysts Still Say No
- The Most Important Warren Buffett Stock for Investors: His Own
- e.l.f. Sell-Off Is a Good Time to Buy, According to Analysts
- Stock Market Sectors: What Are They and How Many Are There?
- T-Mobile Is The Most Oversold Mega-Cap Stock—Time to Buy?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in ePlus Right Now?
Before you consider ePlus, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ePlus wasn't on the list.
While ePlus currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
