ePlus (NASDAQ:PLUS) Hits New 52-Week Low – What’s Next?

ePlus inc. (NASDAQ:PLUS) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $67.34 and last traded at $67.43, with a volume of 11885 shares changing hands. The stock had previously closed at $69.06.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of ePlus from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

ePlus Price Performance

The business’s 50-day moving average price is $76.92 and its 200 day moving average price is $86.46. The stock has a market capitalization of $1.82 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 1.83.

ePlus (NASDAQ:PLUS) last announced 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%. Research analysts forecast that ePlus inc. will post 4.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornercap Investment Counsel Inc. purchased a new stake in ePlus during the fourth quarter valued at about $405,000. New Age Alpha Advisors LLC purchased a new stake in ePlus during the fourth quarter valued at about $105,000. Norges Bank purchased a new stake in ePlus during the fourth quarter valued at about $288,000. JPMorgan Chase & Co. boosted its position in ePlus by 126.6% during the fourth quarter. JPMorgan Chase & Co. now owns 124,251 shares of the software maker’s stock valued at $9,180,000 after buying an additional 69,410 shares during the period. Finally, Zions Bancorporation N.A. boosted its position in ePlus by 19.2% during the fourth quarter. Zions Bancorporation N.A. now owns 27,417 shares of the software maker’s stock valued at $2,026,000 after buying an additional 4,413 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.