ePlus (NASDAQ:PLUS) Shares Down 4.6%

ePlus inc. (NASDAQ:PLUSGet Rating) fell 4.6% on Thursday . The company traded as low as $53.97 and last traded at $54.34. 2,099 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 128,271 shares. The stock had previously closed at $56.98.

A number of brokerages have weighed in on PLUS. StockNews.com upgraded ePlus from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered ePlus from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 6th.

The business has a fifty day moving average price of $55.63 and a 200-day moving average price of $57.74. The company has a current ratio of 1.69, a quick ratio of 1.43 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.50 billion, a PE ratio of 15.81 and a beta of 1.24.

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new stake in ePlus during the 4th quarter valued at about $31,000. New Century Advisors LLC boosted its holdings in ePlus by 161.9% during the 1st quarter. New Century Advisors LLC now owns 736 shares of the software maker’s stock valued at $41,000 after acquiring an additional 455 shares during the period. Covestor Ltd purchased a new stake in ePlus during the 4th quarter valued at about $44,000. Advisor Group Holdings Inc. boosted its holdings in ePlus by 28.3% during the 3rd quarter. Advisor Group Holdings Inc. now owns 463 shares of the software maker’s stock valued at $48,000 after acquiring an additional 102 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in ePlus by 100.0% during the 4th quarter. AdvisorNet Financial Inc now owns 928 shares of the software maker’s stock valued at $50,000 after acquiring an additional 464 shares during the period. Institutional investors own 92.04% of the company’s stock.

About ePlus (NASDAQ:PLUS)

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 in two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; and professional and managed services, including ePlus managed, professional, security, ePlus cloud consulting, staff augmentation, server and desktop support, and project management services.

Featured Stories

Receive News & Ratings for ePlus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ePlus and related companies with MarketBeat.com's FREE daily email newsletter.