Net 1 UEPS Technologies Inc (UEPS) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Net 1 UEPS Technologies Inc (NASDAQ:UEPS) from a strong-buy rating to a hold rating in a report released 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. “

Shares of Net 1 UEPS Technologies (NASDAQ:UEPS) opened at 11.08 on Friday. Net 1 UEPS Technologies has a 52-week low of $8.37 and a 52-week high of $13.81. The company has a 50-day moving average of $12.60 and a 200-day moving average of $11.63. The stock has a market capitalization of $571.91 million, a price-to-earnings ratio of 6.66 and a beta of 0.51.

Net 1 UEPS Technologies (NASDAQ:UEPS) last announced its earnings results on Thursday, February 9th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. Net 1 UEPS Technologies had a net margin of 14.51% and a return on equity of 16.11%. The business had revenue of $151.43 million for the quarter, compared to analyst estimates of $164.60 million. During the same quarter last year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts anticipate that Net 1 UEPS Technologies will post $1.78 EPS for the current year.

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In other news, VP Nitin Soma sold 22,537 shares of Net 1 UEPS Technologies stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $12.90, for a total value of $290,727.30. Following the sale, the vice president now owns 56,761 shares in the company, valued at $732,216.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 79,073 shares of company stock worth $1,018,148. Company insiders own 6.32% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in shares of Net 1 UEPS Technologies by 6.6% in the third quarter. Acadian Asset Management LLC now owns 1,177,927 shares of the company’s stock valued at $10,085,000 after buying an additional 72,444 shares during the period. Prescott Group Capital Management L.L.C. raised its stake in shares of Net 1 UEPS Technologies by 3.5% in the third quarter. Prescott Group Capital Management L.L.C. now owns 879,722 shares of the company’s stock valued at $7,530,000 after buying an additional 30,000 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Net 1 UEPS Technologies by 9.9% in the third quarter. PNC Financial Services Group Inc. now owns 219,057 shares of the company’s stock valued at $1,876,000 after buying an additional 19,645 shares during the period. Boston Partners raised its stake in shares of Net 1 UEPS Technologies by 0.7% in the third quarter. Boston Partners now owns 238,651 shares of the company’s stock valued at $2,043,000 after buying an additional 1,761 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of Net 1 UEPS Technologies by 162.4% in the third quarter. Schroder Investment Management Group now owns 334,286 shares of the company’s stock valued at $2,862,000 after buying an additional 206,900 shares during the period. Institutional investors and hedge funds own 57.09% of the company’s stock.

About Net 1 UEPS Technologies

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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