ePlus (NASDAQ:PLUS) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

ePlus (NASDAQ:PLUS) issued its quarterly earnings results on Thursday. The software maker reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08, Zacks reports. The business had revenue of $498.11 million for the quarter, compared to analysts’ expectations of $523.85 million. ePlus had a net margin of 4.93% and a return on equity of 11.23%.

ePlus Stock Performance

Shares of ePlus stock opened at $66.97 on Friday. ePlus has a one year low of $53.83 and a one year high of $106.98. The company has a market cap of $1.78 billion, a PE ratio of 17.08, a P/E/G ratio of 1.83 and a beta of 1.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.69 and a current ratio of 1.83. The business has a 50-day simple moving average of $62.19 and a 200-day simple moving average of $71.10.

Hedge Funds Weigh In On ePlus

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of ePlus by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,666 shares of the software maker’s stock worth $956,000 after buying an additional 687 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of ePlus by 628.3% during the first 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 in the last quarter. Amundi grew its position in shares of ePlus by 333.0% during the first quarter. Amundi now owns 5,361 shares of the software maker’s stock worth $313,000 after buying an additional 4,123 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in ePlus by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,186 shares of the software maker’s stock valued at $4,650,000 after purchasing an additional 4,526 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in ePlus by 20.4% in the first quarter. AQR Capital Management LLC now owns 45,612 shares of the software maker’s stock valued at $2,784,000 after purchasing an additional 7,742 shares in the last quarter. 93.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of ePlus from a “hold” rating to a “buy” rating in a research report on Saturday.

About ePlus

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.