ePlus (NASDAQ:PLUS) Reaches New 52-Week Low – Here’s What Happened

ePlus inc. (NASDAQ:PLUS)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $61.43 and last traded at $61.67, with a volume of 35218 shares. The stock had previously closed at $64.25.

Analysts Set New Price Targets

Separately, StockNews.com upgraded ePlus from a “hold” rating to a “buy” rating in a report on Thursday.

ePlus Price Performance

The stock has a market capitalization of $1.64 billion, a P/E ratio of 15.69, a PEG ratio of 1.83 and a beta of 1.15. 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 fifty day simple moving average of $70.12 and a 200-day simple moving average of $81.11.

ePlus (NASDAQ:PLUS) last issued its earnings results on Wednesday, February 5th. The software maker reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.37). ePlus had a return on equity of 11.23% and a net margin of 4.93%. Sell-side analysts expect that ePlus inc. will post 3.78 earnings per share for the current fiscal year.

Institutional Trading of ePlus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC acquired a new stake in ePlus in the fourth quarter valued at approximately $1,711,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in ePlus by 18.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,660 shares of the software maker’s stock valued at $5,294,000 after purchasing an additional 11,193 shares during the period. Squarepoint Ops LLC increased its stake in ePlus by 287.1% during the 4th quarter. Squarepoint Ops LLC now owns 12,043 shares of the software maker’s stock valued at $890,000 after purchasing an additional 8,932 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in ePlus during the fourth quarter worth $213,000. Finally, ProShare Advisors LLC lifted its stake in shares of ePlus by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 7,934 shares of the software maker’s stock valued at $586,000 after buying an additional 2,443 shares in the last quarter. 93.80% of the stock is owned by institutional investors.

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.