Zacks Investment Research lowered shares of USA Technologies, Inc. (NASDAQ:USAT) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “USA Technologies is a leader in the networking of distributed assets, wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner. The Company has marketing agreements with Cingular Wireless, Honeywell, MEI, Unilever and ZiLOG Corporation. “

USAT has been the subject of several other reports. Northland Securities reissued a buy rating and issued a $7.25 price objective on shares of USA Technologies in a report on Tuesday, September 5th. BidaskClub lowered USA Technologies from a buy rating to a hold rating in a report on Saturday, August 12th. ValuEngine raised USA Technologies from a sell rating to a hold rating in a report on Thursday, July 27th. Finally, William Blair initiated coverage on USA Technologies in a report on Thursday, August 24th. They issued an outperform rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $7.50.

Shares of USA Technologies (NASDAQ USAT) traded up $0.30 during midday trading on Wednesday, hitting $8.45. The stock had a trading volume of 937,324 shares, compared to its average volume of 298,501. USA Technologies has a twelve month low of $3.80 and a twelve month high of $8.50. The stock has a market capitalization of $409.10, a price-to-earnings ratio of 390.00 and a beta of 0.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.38 and a current ratio of 2.67.

USA Technologies (NASDAQ:USAT) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.01. USA Technologies had a return on equity of 1.20% and a net margin of 0.37%. The business had revenue of $25.62 million for the quarter, compared to analyst estimates of $25.87 million. research analysts expect that USA Technologies will post 0.06 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in USAT. RK Capital Management LLC bought a new stake in USA Technologies in the third quarter valued at about $8,027,000. Russell Investments Group Ltd. bought a new stake in USA Technologies in the third quarter valued at about $7,163,000. EAM Investors LLC bought a new stake in USA Technologies in the third quarter valued at about $3,096,000. Ardsley Advisory Partners bought a new stake in USA Technologies in the second quarter valued at about $2,080,000. Finally, HighTower Advisors LLC bought a new stake in USA Technologies in the second quarter valued at about $1,668,000. 39.27% of the stock is owned by hedge funds and other institutional investors.

About USA Technologies

USA Technologies, Inc provides technology-enabled solutions and value-added services that facilitate electronic payment transactions within the unattended point of sale (POS) market. The Company is a provider in the small ticket, beverage and food vending industry and is also engaged in offering solutions and services to other unattended market segments, such as amusement, commercial laundry, kiosk and others.

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