ePlus (NASDAQ:PLUS) Sets New 52-Week Low - Here's Why

ePlus inc. (NASDAQ:PLUS - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $61.91 and last traded at $62.95, with a volume of 263201 shares. The stock had previously closed at $62.88.

Analyst Ratings Changes

Separately, StockNews.com raised shares of ePlus from a "hold" rating to a "buy" rating in a research note on Thursday.

ePlus Stock Up 2.2 %

The business's 50 day moving average is $73.30 and its 200 day moving average is $83.82. 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 stock has a market cap of $1.75 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 1.83 and a beta of 1.15.

ePlus (NASDAQ:PLUS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.37). ePlus had a return on equity of 11.23% and a net margin of 4.93%. Equities analysts expect that ePlus inc. will post 3.78 earnings per share for the current year.

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Institutional Investors Weigh In On ePlus

Institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC acquired a new stake in shares of ePlus during the 3rd quarter valued at $227,000. Versor Investments LP acquired a new stake in shares of ePlus during the 4th quarter valued at $318,000. Principal Financial Group Inc. boosted its stake in shares of ePlus by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 137,452 shares of the software maker's stock valued at $10,155,000 after buying an additional 4,425 shares during the period. Geode Capital Management LLC boosted its stake in shares of ePlus by 16.8% during the 3rd quarter. Geode Capital Management LLC now owns 731,909 shares of the software maker's stock valued at $71,987,000 after buying an additional 105,526 shares during the period. Finally, Barclays PLC boosted its stake in shares of ePlus by 82.3% during the 3rd quarter. Barclays PLC now owns 80,328 shares of the software maker's stock valued at $7,899,000 after buying an additional 36,267 shares during the period. Institutional investors and hedge funds own 93.80% of the company's stock.

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.