ePlus (NASDAQ:PLUS) Reaches New 1-Year Low – Here’s What Happened

ePlus inc. (NASDAQ:PLUS) reached a new 52-week low during trading on Thursday . The stock traded as low as $58.28 and last traded at $58.28, with a volume of 6306 shares traded. The stock had previously closed at $62.09.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of ePlus from a “hold” rating to a “buy” rating in a research note on Thursday, March 27th.

ePlus Stock Down 7.9 %

The company has a market cap of $1.52 billion, a PE ratio of 14.59, a P/E/G ratio of 1.83 and a beta of 1.15. The company has a current ratio of 1.83, a quick ratio of 1.69 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $68.59 and its 200 day moving average is $80.30.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Castlekeep Investment Advisors LLC purchased a new position in ePlus in the fourth quarter valued at about $127,898,000. Mirabella Financial Services LLP purchased a new position in shares of ePlus in the 4th quarter worth approximately $43,517,000. FMR LLC lifted its position in ePlus by 70.9% during the third quarter. FMR LLC now owns 1,117,812 shares of the software maker’s stock valued at $109,926,000 after acquiring an additional 463,621 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in ePlus in the fourth quarter worth $15,590,000. Finally, Wellington Management Group LLP increased its position in shares of ePlus by 20.4% during the third quarter. Wellington Management Group LLP now owns 968,998 shares of the software maker’s stock worth $95,291,000 after purchasing an additional 164,016 shares in the last quarter. 93.80% of the stock is currently owned by hedge funds and other institutional investors.

ePlus Company Profile

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.