Net 1 UEPS Technologies (NASDAQ:UEPS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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. “
Other equities analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Net 1 UEPS Technologies from a “c+” rating to a “b-” rating in a research note on Friday, December 1st. Sidoti initiated coverage on shares of Net 1 UEPS Technologies in a research note on Monday, November 20th. They issued a “buy” rating on the stock. ValuEngine cut shares of Net 1 UEPS Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub upgraded shares of Net 1 UEPS Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Finally, Robert W. Baird lowered their price objective on shares of Net 1 UEPS Technologies from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $13.50.
Net 1 UEPS Technologies (NASDAQ:UEPS) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.39 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Net 1 UEPS Technologies had a net margin of 9.73% and a return on equity of 12.30%. The firm had revenue of $148.40 million for the quarter, compared to analysts’ expectations of $148.50 million. During the same quarter in the prior year, the business earned $0.43 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. research analysts expect that Net 1 UEPS Technologies will post 1.64 earnings per share for the current fiscal year.
In other news, Director Christopher Stefan Seabrooke bought 60,821 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $10.75 per share, for a total transaction of $653,825.75. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Herman Kotze bought 6,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $9.85 per share, for a total transaction of $59,100.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 195,500 shares of company stock worth $2,036,511. 3.18% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UEPS. Hosking Partners LLP raised its stake in Net 1 UEPS Technologies by 90.4% during the 3rd quarter. Hosking Partners LLP now owns 474,947 shares of the business services provider’s stock worth $4,626,000 after acquiring an additional 225,551 shares during the period. Two Sigma Investments LP raised its stake in Net 1 UEPS Technologies by 198.7% during the 4th quarter. Two Sigma Investments LP now owns 321,899 shares of the business services provider’s stock worth $3,827,000 after acquiring an additional 214,135 shares during the period. Lyon Street Capital LLC bought a new stake in Net 1 UEPS Technologies during the 4th quarter worth approximately $2,044,000. Two Sigma Advisers LP raised its stake in Net 1 UEPS Technologies by 73.3% during the 4th quarter. Two Sigma Advisers LP now owns 323,635 shares of the business services provider’s stock worth $3,848,000 after acquiring an additional 136,900 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Net 1 UEPS Technologies by 22.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 407,992 shares of the business services provider’s stock worth $3,974,000 after acquiring an additional 75,185 shares during the period. Institutional investors own 56.45% of the company’s stock.
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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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