Net 1 UEPS Technologies (NASDAQ:UEPS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday. They presently have a $11.00 price target on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 17.27% from the stock’s previous close.
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 analysts have also issued reports on the stock. BidaskClub upgraded shares of Net 1 UEPS Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. Robert W. Baird decreased their target price on shares of Net 1 UEPS Technologies from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. ValuEngine upgraded shares of Net 1 UEPS Technologies from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Finally, TheStreet lowered shares of Net 1 UEPS Technologies from a “b-” rating to a “c” rating in a research report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Net 1 UEPS Technologies presently has an average rating of “Hold” and an average price target of $13.00.
UEPS stock opened at $9.38 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.28 and a current ratio of 1.30. Net 1 UEPS Technologies has a fifty-two week low of $8.87 and a fifty-two week high of $13.20. The stock has a market capitalization of $540.48, a P/E ratio of 5.55 and a beta of 0.72.
Net 1 UEPS Technologies (NASDAQ:UEPS) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. The business had revenue of $148.40 million for the quarter, compared to analysts’ expectations of $148.50 million. Net 1 UEPS Technologies had a net margin of 9.73% and a return on equity of 12.30%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. research analysts forecast that Net 1 UEPS Technologies will post 1.64 earnings per share for the current fiscal year.
In other Net 1 UEPS Technologies news, Director Christopher Stefan Seabrooke acquired 53,422 shares of Net 1 UEPS Technologies stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $9.77 per share, for a total transaction of $521,932.94. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Herman Kotze acquired 6,000 shares of Net 1 UEPS Technologies stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $9.85 per share, with a total value of $59,100.00. The disclosure for this purchase can be found here. Insiders purchased a total of 195,500 shares of company stock valued at $2,036,511 in the last quarter. 3.18% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of UEPS. Ellington Management Group LLC bought a new position in shares of Net 1 UEPS Technologies during the 4th quarter valued at about $121,000. Verity Asset Management Inc. bought a new position in shares of Net 1 UEPS Technologies during the 4th quarter valued at about $202,000. FNY Partners Fund LP bought a new position in shares of Net 1 UEPS Technologies during the 4th quarter valued at about $204,000. Teacher Retirement System of Texas bought a new position in shares of Net 1 UEPS Technologies during the 4th quarter valued at about $230,000. Finally, Macquarie Group Ltd. bought a new position in shares of Net 1 UEPS Technologies during the 3rd quarter valued at about $244,000. Institutional investors own 56.42% of the company’s stock.
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About Net 1 UEPS Technologies
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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