Zacks Investment Research upgraded shares of MiX Telematics (NYSE:MIXT) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. They currently have $19.00 price target on the technology company’s stock.

According to Zacks, “MiX Telematics Limited provides fleet and mobile asset management solutions. It offers vehicle tracking services for the consumer and commercial vehicle market worldwide. Mix’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, efficiency and security. The Company’s products includes Trailer Tracking, MiX Rovi, Beam-e, Matrix MX3, Matrix MX2, Matrix MX1, FM Tracer (FM3316i), FM Protector/MiX 3000, FM-Web, MiX Insight Analyser, Matrix Internet Tracking, MiX DriveTime, MiX Mobile, MiX Track, FM Wireless Kit, FM Voice Kit and FM Sat Comms. MiX Telematics Limited is based in Midrand, South Africa. “

Separately, ValuEngine lowered shares of MiX Telematics from a buy rating to a hold rating in a research note on Monday, March 25th.

Shares of NYSE MIXT opened at $17.22 on Wednesday. MiX Telematics has a 1 year low of $13.01 and a 1 year high of $20.50. The stock has a market cap of $388.78 million, a P/E ratio of 22.96, a P/E/G ratio of 0.82 and a beta of 0.75.

MiX Telematics (NYSE:MIXT) last posted its quarterly earnings data on Tuesday, May 14th. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. MiX Telematics had a net margin of 10.16% and a return on equity of 15.05%. The business had revenue of $507.90 million for the quarter, compared to analyst estimates of $495.61 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share. MiX Telematics’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts forecast that MiX Telematics will post 0.83 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 31st will be paid a dividend of $0.0704 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.28 annualized dividend and a yield of 1.63%. This is a positive change from MiX Telematics’s previous quarterly dividend of $0.05. MiX Telematics’s payout ratio is presently 21.33%.

A number of large investors have recently bought and sold shares of MIXT. Dimensional Fund Advisors LP boosted its stake in MiX Telematics by 23.0% during the third quarter. Dimensional Fund Advisors LP now owns 104,037 shares of the technology company’s stock worth $1,502,000 after acquiring an additional 19,421 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of MiX Telematics by 642.6% in the fourth quarter. Advisors Asset Management Inc. now owns 27,586 shares of the technology company’s stock worth $432,000 after buying an additional 23,871 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of MiX Telematics by 37.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 157,270 shares of the technology company’s stock worth $2,461,000 after buying an additional 43,120 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of MiX Telematics by 5.3% in the fourth quarter. Mackenzie Financial Corp now owns 63,721 shares of the technology company’s stock worth $997,000 after buying an additional 3,218 shares in the last quarter. Finally, Boston Partners bought a new position in shares of MiX Telematics in the fourth quarter worth approximately $1,549,000. 40.19% of the stock is currently owned by institutional investors and hedge funds.

MiX Telematics Company Profile

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.

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