$352.50 Million in Sales Expected for ePlus (PLUS) This Quarter

Wall Street analysts expect that ePlus (NASDAQ:PLUS) will post sales of $352.50 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for ePlus’ earnings, with the highest sales estimate coming in at $355.80 million and the lowest estimate coming in at $349.20 million. ePlus posted sales of $332.77 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The firm is expected to report its next earnings report on Wednesday, May 23rd.

On average, analysts expect that ePlus will report full year sales of $352.50 million for the current year, with estimates ranging from $1.43 billion to $1.44 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.52 billion per share, with estimates ranging from $1.52 billion to $1.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow ePlus.

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ePlus (NASDAQ:PLUS) last announced its earnings results on Wednesday, February 7th. The software maker reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.13. The firm had revenue of $342.57 million during the quarter, compared to analyst estimates of $344.25 million. ePlus had a net margin of 4.01% and a return on equity of 15.06%.

A number of equities analysts recently weighed in on the stock. BidaskClub raised shares of ePlus from a “hold” rating to a “buy” rating in a research note on Friday. Sidoti raised shares of ePlus from a “neutral” rating to a “buy” rating in a research note on Friday, February 9th. Finally, Zacks Investment Research raised shares of ePlus from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. ePlus currently has a consensus rating of “Buy” and a consensus price target of $78.00.

In other ePlus news, Director Lawrence S. Herman sold 500 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $74.47, for a total transaction of $37,235.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Elaine D. Marion sold 3,000 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $80.45, for a total transaction of $241,350.00. Following the sale, the chief financial officer now directly owns 74,568 shares in the company, valued at $5,998,995.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,473 shares of company stock valued at $1,631,772. Company insiders own 3.25% of the company’s stock.

A number of large investors have recently modified their holdings of PLUS. Atlanta Capital Management Co. L L C lifted its position in ePlus by 117.3% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 247,459 shares of the software maker’s stock worth $18,609,000 after buying an additional 133,575 shares in the last quarter. BlackRock Inc. lifted its position in ePlus by 2.7% during the 4th quarter. BlackRock Inc. now owns 1,726,060 shares of the software maker’s stock worth $129,800,000 after buying an additional 45,711 shares in the last quarter. First Trust Advisors LP lifted its position in ePlus by 182.9% during the 4th quarter. First Trust Advisors LP now owns 30,954 shares of the software maker’s stock worth $2,328,000 after buying an additional 20,011 shares in the last quarter. Arizona State Retirement System lifted its position in ePlus by 221.9% during the 4th quarter. Arizona State Retirement System now owns 23,817 shares of the software maker’s stock worth $1,791,000 after buying an additional 16,417 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in ePlus during the 3rd quarter worth about $1,438,000. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ PLUS traded up $1.30 on Monday, reaching $77.70. The company had a trading volume of 88,274 shares, compared to its average volume of 90,755. The firm has a market cap of $1,083.84, a PE ratio of 20.78 and a beta of 1.15. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01. ePlus has a 1-year low of $63.76 and a 1-year high of $97.75.

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About ePlus

ePlus inc., an engineering-centric technology solutions provider, provides information technology (IT) products and services, flexible leasing and financing solutions, and enterprise supply management in the United States. It operates through two segments, Technology and Financing. The Technology segment sells IT products, such as hardware, software, maintenance, software assurance, and services; and offers advanced professional and managed services, including data center infrastructure, networking, security, cloud, and collaboration, as well as ePlus managed, professional, security, staff augmentation, server and desktop support, and project management services.

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