ePlus (NASDAQ:PLUS) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

ePlus inc. (NASDAQ:PLUS)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $83.03 and traded as high as $89.53. ePlus shares last traded at $89.27, with a volume of 179,522 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of ePlus from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Zacks Research cut shares of ePlus from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of ePlus in a research note on Friday, July 10th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

ePlus Stock Performance

The business has a fifty day moving average of $83.72 and a 200-day moving average of $83.03. The company has a market capitalization of $2.49 billion, a P/E ratio of 18.44, a PEG ratio of 1.20 and a beta of 1.02.

ePlus (NASDAQ:PLUS) last announced its quarterly earnings results on Thursday, May 28th. The software maker reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. ePlus had a net margin of 5.24% and a return on equity of 11.36%. The business had revenue of $581.63 million during the quarter, compared to analyst estimates of $569.25 million. Sell-side analysts anticipate that ePlus inc. will post 4.66 EPS for the current year.

ePlus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 17th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This is a boost from ePlus’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. ePlus’s payout ratio is presently 22.31%.

Insider Buying and Selling at ePlus

In related news, COO Darren S. Raiguel sold 1,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $89.95, for a total value of $89,950.00. Following the sale, the chief operating officer owned 55,748 shares in the company, valued at $5,014,532.60. This represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 1,289 shares of company stock valued at $115,757. Corporate insiders own 1.93% of the company’s stock.

Institutional Trading of ePlus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its position in shares of ePlus by 361.9% during the second quarter. Osaic Holdings Inc. now owns 448 shares of the software maker’s stock valued at $32,000 after buying an additional 351 shares during the last quarter. GAMMA Investing LLC raised its position in ePlus by 30.8% in the 4th quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock valued at $79,000 after buying an additional 213 shares during the last quarter. Kestra Advisory Services LLC bought a new position in ePlus during the 4th quarter valued at $108,000. US Bancorp DE lifted its stake in ePlus by 856.4% during the 3rd quarter. US Bancorp DE now owns 1,731 shares of the software maker’s stock valued at $123,000 after acquiring an additional 1,550 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ePlus during the 4th quarter worth $138,000. 93.80% of the stock is owned by hedge funds and other institutional investors.

About ePlus

ePlus Inc (NASDAQ:PLUS) is a technology solutions provider that helps enterprises and public-sector organizations maximize the value of their information technology investments. The company specializes in designing, implementing and managing complex IT infrastructures, with a focus on security, cloud computing, data center modernization and unified communications. By combining consulting services with software license management and hardware procurement, ePlus delivers end-to-end solutions that align with its clients’ strategic objectives.

The company’s offerings include cybersecurity assessments and managed security services, hybrid and public cloud deployments, network architecture and optimization, and collaboration platforms.