Net 1 UEPS Technologies (UEPS) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Net 1 UEPS Technologies (NASDAQ:UEPS) from a strong-buy rating to a hold rating in a research report report published on Saturday.
According to Zacks, “Net 1 U.E.P.S. Technologies provides its universal electronic payment system as an alternative payment system for the unbanked and under-banked populations of developing economies. Net 1 believes that it is the first company worldwide to implement a system that can enable the estimated four billion people who generally have limited or no access to a bank account to enter affordably into electronic transactions with each other, government agencies, employers, merchants and other financial service providers. “
A number of other equities research analysts also recently weighed in on UEPS. TheStreet raised Net 1 UEPS Technologies from a c rating to a b- rating in a research report on Tuesday, September 26th. ValuEngine raised Net 1 UEPS Technologies from a buy rating to a strong-buy rating in a research report on Saturday, September 30th. BidaskClub raised Net 1 UEPS Technologies from a sell rating to a hold rating in a research report on Saturday, December 30th. Finally, Sidoti began coverage on Net 1 UEPS Technologies in a research report on Monday, November 20th. They set a buy rating on the stock. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $11.00.
Net 1 UEPS Technologies (NASDAQ UEPS) traded up $0.04 during mid-day trading on Friday, reaching $12.26. The company had a trading volume of 962,500 shares, compared to its average volume of 631,240. Net 1 UEPS Technologies has a fifty-two week low of $8.87 and a fifty-two week high of $13.81. The firm has a market capitalization of $695.66, a P/E ratio of 9.97 and a beta of 0.77. The company has a current ratio of 1.35, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05.
Net 1 UEPS Technologies (NASDAQ:UEPS) last released its earnings results on Thursday, November 9th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Net 1 UEPS Technologies had a return on equity of 13.06% and a net margin of 11.17%. research analysts predict that Net 1 UEPS Technologies will post 1.58 EPS for the current fiscal year.
In other Net 1 UEPS Technologies news, Director Paul Edwards sold 9,000 shares of Net 1 UEPS Technologies stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $11.36, for a total transaction of $102,240.00. Following the sale, the director now directly owns 10,822 shares of the company’s stock, valued at $122,937.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alasdair Jonathan Kemsley Pein sold 6,500 shares of Net 1 UEPS Technologies stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $11.01, for a total value of $71,565.00. Following the sale, the director now directly owns 29,061 shares in the company, valued at $319,961.61. The disclosure for this sale can be found here. 3.18% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UEPS. Bank of New York Mellon Corp boosted its holdings in Net 1 UEPS Technologies by 24.2% during the second quarter. Bank of New York Mellon Corp now owns 332,807 shares of the business services provider’s stock valued at $3,282,000 after purchasing an additional 64,767 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in Net 1 UEPS Technologies during the second quarter valued at approximately $107,000. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Net 1 UEPS Technologies by 2.0% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 35,735 shares of the business services provider’s stock valued at $352,000 after purchasing an additional 690 shares in the last quarter. AJO LP boosted its holdings in Net 1 UEPS Technologies by 5.8% during the second quarter. AJO LP now owns 397,131 shares of the business services provider’s stock valued at $3,916,000 after purchasing an additional 21,922 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Net 1 UEPS Technologies by 28.8% during the second quarter. GSA Capital Partners LLP now owns 101,521 shares of the business services provider’s stock valued at $1,001,000 after purchasing an additional 22,695 shares in the last quarter. 56.12% of the stock is currently owned by institutional investors.
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Net 1 UEPS Technologies Company Profile
Net 1 UEPS Technologies, Inc is a provider of payment solutions, transaction processing services and financial technology across multiple industries. The Company develops and markets a transaction processing solution that encompasses its smart card-based alternative payment system for the unbanked and under-banked populations of developing economies and for mobile transaction channels.
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