Geode Capital Management LLC Boosts Stake in USA Technologies (USAT)

Geode Capital Management LLC grew its holdings in USA Technologies (NASDAQ:USAT) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 405,077 shares of the technology company’s stock after purchasing an additional 7,185 shares during the quarter. Geode Capital Management LLC’s holdings in USA Technologies were worth $3,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of USAT. State Street Corp boosted its position in shares of USA Technologies by 14.5% in the second quarter. State Street Corp now owns 572,188 shares of the technology company’s stock valued at $2,975,000 after acquiring an additional 72,356 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of USA Technologies by 17.8% in the second quarter. The Manufacturers Life Insurance Company now owns 34,782 shares of the technology company’s stock valued at $181,000 after acquiring an additional 5,263 shares during the period. Bank of New York Mellon Corp boosted its position in shares of USA Technologies by 17.6% in the third quarter. Bank of New York Mellon Corp now owns 145,379 shares of the technology company’s stock valued at $909,000 after acquiring an additional 21,714 shares during the period. Wells Fargo & Company MN boosted its position in shares of USA Technologies by 28.5% in the third quarter. Wells Fargo & Company MN now owns 921,113 shares of the technology company’s stock valued at $5,758,000 after acquiring an additional 204,185 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of USA Technologies by 57.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 88,400 shares of the technology company’s stock valued at $553,000 after acquiring an additional 32,100 shares during the period. 56.06% of the stock is owned by institutional investors.

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USAT has been the subject of several research reports. Barrington Research reissued a “buy” rating on shares of USA Technologies in a research report on Tuesday, April 3rd. Lake Street Capital initiated coverage on USA Technologies in a research report on Tuesday, April 3rd. They issued a “buy” rating and a $11.00 price objective for the company. Northland Securities reissued a “buy” rating and issued a $14.00 price objective on shares of USA Technologies in a research report on Thursday, March 15th. BidaskClub raised USA Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Finally, Zacks Investment Research raised USA Technologies from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Saturday, February 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. USA Technologies presently has an average rating of “Hold” and an average price target of $11.67.

Shares of USAT stock opened at $8.78 on Friday. The firm has a market capitalization of $506.94, a P/E ratio of -438.75 and a beta of 0.59. USA Technologies has a one year low of $4.25 and a one year high of $10.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.36 and a quick ratio of 1.05.

USA Technologies (NASDAQ:USAT) last issued its earnings results on Thursday, February 8th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $32.51 million during the quarter, compared to analysts’ expectations of $31.38 million. USA Technologies had a positive return on equity of 2.18% and a negative net margin of 10.39%. sell-side analysts predict that USA Technologies will post 0.06 earnings per share for the current fiscal year.

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USA Technologies Profile

USA Technologies, Inc provides wireless networking, cashless transactions, asset monitoring, and other value-added services in the United States and internationally. It designs and markets systems and solutions that facilitate electronic payment options, as well as telemetry and machine-to-machine (M2M) services.

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Institutional Ownership by Quarter for USA Technologies (NASDAQ:USAT)

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