ePlus inc. (NASDAQ:PLUS) was the target of a large decrease in short interest in the month of October. As of October 29th, there was short interest totalling 126,800 shares, a decrease of 17.8% from the October 14th total of 154,200 shares. Based on an average trading volume of 39,900 shares, the short-interest ratio is presently 3.2 days. Approximately 1.0% of the shares of the stock are short sold.
Shares of ePlus stock opened at $115.08 on Friday. The business has a 50-day moving average of $109.83 and a 200-day moving average of $100.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.56. The company has a market capitalization of $1.55 billion, a PE ratio of 16.75 and a beta of 1.33. ePlus has a 1-year low of $79.14 and a 1-year high of $139.48.
Shares of ePlus are scheduled to split on the morning of Friday, November 26th. The 2-1 split was announced on Friday, November 26th. The newly created shares will be distributed to shareholders after the market closes on Friday, November 26th.
ePlus (NASDAQ:PLUS) last announced its earnings results on Tuesday, November 9th. The software maker reported $2.59 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.80. ePlus had a return on equity of 15.99% and a net margin of 5.57%. During the same quarter in the prior year, the firm earned $1.48 earnings per share. On average, equities analysts expect that ePlus will post 6.25 earnings per share for the current fiscal year.
Several analysts recently issued reports on PLUS shares. Sidoti upgraded ePlus from a “neutral” rating to a “buy” rating and increased their price target for the company from $104.00 to $121.00 in a report on Thursday, August 5th. Zacks Investment Research upgraded ePlus from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a report on Friday.
In other ePlus news, CEO Mark P. Marron sold 6,250 shares of the stock in a transaction on Monday, October 4th. The stock was sold at an average price of $103.15, for a total transaction of $644,687.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Darren S. Raiguel sold 4,000 shares of the stock in a transaction on Monday, October 4th. The stock was sold at an average price of $103.11, for a total value of $412,440.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,650 shares of company stock worth $1,433,154. Insiders own 2.18% of the company’s stock.
Several institutional investors have recently made changes to their positions in PLUS. First Trust Advisors LP grew its stake in shares of ePlus by 2.0% during the first quarter. First Trust Advisors LP now owns 10,703 shares of the software maker’s stock valued at $948,000 after acquiring an additional 211 shares in the last quarter. Captrust Financial Advisors grew its stake in ePlus by 1,456.0% in the first quarter. Captrust Financial Advisors now owns 389 shares of the software maker’s stock worth $39,000 after purchasing an additional 364 shares in the last quarter. Jane Street Group LLC acquired a new position in ePlus in the first quarter worth about $384,000. Cubist Systematic Strategies LLC bought a new position in ePlus in the first quarter worth about $372,000. Finally, Paloma Partners Management Co bought a new position in ePlus in the first quarter worth about $222,000. Institutional investors own 91.58% of the company’s stock.
About ePlus
ePlus, Inc provides information technology solutions that enable organizations to optimize their information technology (IT) environment and supply chain processes in the United States. It operates in two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally-provided and outsourced services; and advanced professional and managed services, including ePlus managed, professional, security, staff augmentation, server and desktop support, and project management services.