Net 1 UEPS Technologies (UEPS) Cut to “Strong Sell” at BidaskClub

Net 1 UEPS Technologies (NASDAQ:UEPS) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Wednesday.

A number of other research analysts have also recently commented on UEPS. Zacks Investment Research cut Net 1 UEPS Technologies from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 13th. ValuEngine cut Net 1 UEPS Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Robert W. Baird reduced their price objective on 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. Finally, TheStreet lowered Net 1 UEPS Technologies from a “b-” rating to a “c” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.00.

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UEPS opened at $8.83 on Wednesday. The company has a market capitalization of $497.85, a PE ratio of 5.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.30 and a quick ratio of 1.28. Net 1 UEPS Technologies has a 52 week low of $8.64 and a 52 week high of $13.20.

Net 1 UEPS Technologies (NASDAQ:UEPS) last released its earnings results on Thursday, February 8th. The business services provider reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. The company had revenue of $148.40 million during the quarter, compared to analysts’ expectations of $148.50 million. Net 1 UEPS Technologies had a return on equity of 12.30% and a net margin of 9.73%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS. research analysts expect that Net 1 UEPS Technologies will post 1.64 earnings per share for the current fiscal year.

In related news, Director Christopher Stefan Seabrooke acquired 53,422 shares of Net 1 UEPS Technologies stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $9.77 per share, with a total value of $521,932.94. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Herman Kotze acquired 6,000 shares of Net 1 UEPS Technologies stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average cost of $9.85 per share, with a total value of $59,100.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 195,500 shares of company stock valued at $2,036,511. 3.18% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Schroder Investment Management Group increased its holdings in shares of Net 1 UEPS Technologies by 22.8% in the 4th quarter. Schroder Investment Management Group now owns 46,900 shares of the business services provider’s stock worth $558,000 after purchasing an additional 8,700 shares in the last quarter. Ellington Management Group LLC bought a new stake in shares of Net 1 UEPS Technologies in the 4th quarter worth $121,000. Two Sigma Investments LP increased its holdings in shares of Net 1 UEPS Technologies by 198.7% in the 4th quarter. Two Sigma Investments LP now owns 321,899 shares of the business services provider’s stock worth $3,827,000 after purchasing an additional 214,135 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Net 1 UEPS Technologies by 1,164.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,603 shares of the business services provider’s stock worth $269,000 after purchasing an additional 25,420 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Net 1 UEPS Technologies by 12.4% in the 4th quarter. Swiss National Bank now owns 101,192 shares of the business services provider’s stock worth $1,203,000 after purchasing an additional 11,200 shares in the last quarter. 56.65% of the stock is owned by institutional investors and hedge funds.

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Net 1 UEPS Technologies Company Profile

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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