ePlus Inc. (NASDAQ:PLUS) Short Interest Down 6.1% in June

ePlus Inc. (NASDAQ:PLUS) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 188,600 shares, a decline of 6.1% from the May 15th total of 200,900 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily trading volume, of 80,900 shares, the days-to-cover ratio is presently 2.3 days.

Several equities analysts recently issued reports on the company. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Sidoti upgraded ePlus from a “neutral” rating to a “buy” rating in a research note on Monday, July 1st. Zacks Investment Research upgraded Icon from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a research note on Thursday, May 30th. Finally, Berenberg Bank restated a “hold” rating and issued a GBX 300 ($3.92) target price on shares of Forterra in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $99.50.

Shares of ePlus stock opened at $73.99 on Friday. ePlus has a 12-month low of $65.52 and a 12-month high of $107.25. The business’s 50 day moving average is $71.44. The company has a current ratio of 1.70, a quick ratio of 1.55 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.01 billion, a PE ratio of 14.80 and a beta of 1.35.

ePlus (NASDAQ:PLUS) last posted its quarterly earnings results on Wednesday, May 22nd. The software maker reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.18. The business had revenue of $325.43 million for the quarter, compared to analysts’ expectations of $357.65 million. ePlus had a return on equity of 16.81% and a net margin of 4.60%. Analysts forecast that ePlus will post 4.24 earnings per share for the current fiscal year.

In related news, CFO Elaine D. Marion sold 4,773 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $95.02, for a total value of $453,530.46. Following the completion of the transaction, the chief financial officer now directly owns 62,440 shares in the company, valued at approximately $5,933,048.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elaine D. Marion sold 2,661 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $95.12, for a total value of $253,114.32. Following the completion of the transaction, the chief financial officer now owns 64,006 shares of the company’s stock, valued at $6,088,250.72. The disclosure for this sale can be found here. Insiders have sold a total of 10,200 shares of company stock valued at $941,209 over the last 90 days. Corporate insiders own 2.72% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake in ePlus by 20.4% during the 4th quarter. Rhumbline Advisers now owns 38,350 shares of the software maker’s stock valued at $2,729,000 after acquiring an additional 6,496 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in ePlus by 7.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 9,130 shares of the software maker’s stock valued at $650,000 after acquiring an additional 653 shares during the last quarter. Victory Capital Management Inc. boosted its stake in ePlus by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 6,213 shares of the software maker’s stock valued at $442,000 after acquiring an additional 243 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new position in ePlus during the 4th quarter valued at $371,000. Finally, BlackRock Inc. boosted its stake in ePlus by 1.0% during the 4th quarter. BlackRock Inc. now owns 1,953,108 shares of the software maker’s stock valued at $139,003,000 after acquiring an additional 19,475 shares during the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

ePlus Company Profile

ePlus inc., through its subsidiaries, 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, 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.

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