Net 1 UEPS Technologies (UEPS) Shares Down 5%

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Net 1 UEPS Technologies Inc (NASDAQ:UEPS) traded down 5% during mid-day trading on Wednesday . The company traded as low as $6.61 and last traded at $6.30. 37,995 shares traded hands during trading, a decline of 88% from the average session volume of 324,296 shares. The stock had previously closed at $6.63.

A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded Net 1 UEPS Technologies from a “sell” rating to a “hold” rating in a report on Monday, May 14th. ValuEngine cut Net 1 UEPS Technologies from a “hold” rating to a “sell” rating in a report on Friday, June 8th. Maxim Group assumed coverage on Net 1 UEPS Technologies in a report on Monday, July 30th. They set a “buy” rating and a $24.00 price objective for the company. Finally, Sidoti assumed coverage on Net 1 UEPS Technologies in a report on Thursday, June 28th. They set a “buy” rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $15.50.

The firm has a market capitalization of $411.68 million, a PE ratio of 3.73 and a beta of 1.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.29.

Net 1 UEPS Technologies (NASDAQ:UEPS) last issued its quarterly earnings data on Wednesday, August 29th. The business services provider reported $0.21 earnings per share (EPS) for the quarter. Net 1 UEPS Technologies had a return on equity of 14.28% and a net margin of 6.39%. The company had revenue of $149.19 million during the quarter.

In other Net 1 UEPS Technologies news, Director Alfred T. Mockett purchased 6,090 shares of the company’s stock in a transaction dated Monday, June 25th. The stock was bought at an average cost of $8.50 per share, for a total transaction of $51,765.00. Following the completion of the transaction, the director now owns 17,639 shares in the company, valued at $149,931.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alfred T. Mockett purchased 20,790 shares of the company’s stock in a transaction dated Wednesday, June 27th. The stock was acquired at an average price of $8.63 per share, with a total value of $179,417.70. Following the completion of the transaction, the director now owns 17,639 shares of the company’s stock, valued at approximately $152,224.57. The disclosure for this purchase can be found here. Insiders own 3.18% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UEPS. Virginia Retirement Systems ET AL raised its position in shares of Net 1 UEPS Technologies by 24.5% in the first quarter. Virginia Retirement Systems ET AL now owns 134,600 shares of the business services provider’s stock valued at $1,273,000 after buying an additional 26,500 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its position in Net 1 UEPS Technologies by 58.0% during the first quarter. Prescott Group Capital Management L.L.C. now owns 1,698,501 shares of the business services provider’s stock valued at $16,068,000 after purchasing an additional 623,763 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Net 1 UEPS Technologies during the first quarter valued at approximately $16,758,000. BlackRock Inc. raised its position in Net 1 UEPS Technologies by 9.3% during the first quarter. BlackRock Inc. now owns 118,052 shares of the business services provider’s stock valued at $1,116,000 after purchasing an additional 10,029 shares in the last quarter. Finally, Messner & Smith Theme Value Investment Management Ltd. CA acquired a new position in Net 1 UEPS Technologies during the first quarter valued at approximately $844,000. Institutional investors own 53.65% of the company’s stock.

Net 1 UEPS Technologies Company Profile (NASDAQ:UEPS)

Net 1 UEPS Technologies, Inc provides payment solutions, transaction processing services, and financial technologies to various industries in South Africa, South Korea, and internationally. The company develops and markets transaction processing solutions that comprise 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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