ePlus (NASDAQ:PLUS) Hits New 12-Month Low - What's Next?

ePlus inc. (NASDAQ:PLUS - Get Free Report) shares hit a new 52-week low 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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of ePlus from a "hold" rating to a "buy" rating in a report on Thursday, March 27th.

ePlus Stock Up 0.4 %

The firm has a market capitalization of $1.63 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.83 and a beta of 1.15. The company has a fifty day simple moving average of $69.38 and a 200 day simple moving average of $80.64. The company has a quick ratio of 1.69, a current ratio of 1.83 and a debt-to-equity ratio of 0.01.

ePlus (NASDAQ:PLUS - Get Free Report) last announced its quarterly earnings data 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%. On average, equities analysts expect that ePlus inc. will post 3.78 EPS for the current fiscal year.

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Hedge Funds Weigh In On ePlus

Hedge funds have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new stake in shares of ePlus in the 4th quarter worth $127,898,000. Mirabella Financial Services LLP purchased a new stake in shares of ePlus during the fourth quarter valued at $43,517,000. FMR LLC increased its holdings in ePlus by 70.9% in the 3rd quarter. FMR LLC now owns 1,117,812 shares of the software maker's stock worth $109,926,000 after buying an additional 463,621 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in ePlus in the 4th quarter worth about $15,590,000. Finally, Wellington Management Group LLP lifted its stake in ePlus by 20.4% during the 3rd quarter. Wellington Management Group LLP now owns 968,998 shares of the software maker's stock valued at $95,291,000 after acquiring an additional 164,016 shares during the period. 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.