Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
Ben Xiang has resigned from the board of directors of ePlus inc. (NASDAQ:PLUS), effective immediately, according to a statement released Friday. The company, currently valued at $1.8 billion, disclosed that Mr. Xiang stepped down to focus on new career opportunities. According to InvestingPro data, ePlus maintains strong financial health with robust cash reserves exceeding its debt obligations.
The announcement was made through a filing with the U.S. Securities and Exchange Commission. ePlus, based in Herndon, Virginia, operates in the wholesale computer and peripheral equipment and software sector. The company did not announce a replacement for Mr. Xiang or provide additional details regarding the resignation.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, ePlus Inc . reported its financial results for the fourth quarter of fiscal year 2025, revealing a mixed performance. The company posted earnings per share of $1.11, missing analysts’ expectations of $1.23, and revenue for the quarter came in at $498.1 million, below the forecast of $523.83 million. Despite the revenue drop, ePlus improved its gross profit margin to 29.3%, up from 23.5% the prior year. In another development, ePlus completed the sale of its U.S. financing business to PEAC Solutions, a move intended to allow the company to focus on technology solutions and provide additional capital for growth. This transaction is expected to influence the company’s fiscal 2026 guidance, which will be updated in the next earnings call. William Blair analyst Maggie Nolan maintained an Outperform rating on ePlus, viewing the divestiture as a positive step for the company. The sale allows ePlus to concentrate on high-growth areas like artificial intelligence, cybersecurity, and data center modernization. These recent developments highlight ePlus’s strategic pivot towards technology solutions and services, aiming to leverage growth opportunities in these sectors.
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