Gilder Gagnon Howe & Co. LLC trimmed its position in shares of USA Technologies, Inc. (NASDAQ:USAT) by 30.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,132,718 shares of the technology company’s stock after selling 502,573 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned 1.89% of USA Technologies worth $8,156,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in USA Technologies by 10.8% in the 2nd quarter. BlackRock Inc. now owns 3,455,813 shares of the technology company’s stock valued at $48,382,000 after acquiring an additional 337,016 shares in the last quarter. Waddell & Reed Financial Inc. bought a new stake in USA Technologies in the 2nd quarter valued at $20,600,000. Allianz Asset Management GmbH lifted its position in USA Technologies by 127.7% in the 1st quarter. Allianz Asset Management GmbH now owns 1,450,659 shares of the technology company’s stock valued at $13,056,000 after acquiring an additional 813,622 shares in the last quarter. Emerald Advisers Inc. PA lifted its position in USA Technologies by 22.1% in the 2nd quarter. Emerald Advisers Inc. PA now owns 1,341,511 shares of the technology company’s stock valued at $18,781,000 after acquiring an additional 242,780 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in USA Technologies in the 2nd quarter valued at $17,044,000. 72.05% of the stock is currently owned by institutional investors.
USAT has been the topic of several research reports. Zacks Investment Research raised shares of USA Technologies from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. BidaskClub cut shares of USA Technologies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 1st. Finally, ValuEngine cut shares of USA Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 28th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $12.92.
USAT opened at $5.97 on Friday. The firm has a market capitalization of $341.40 million, a P/E ratio of 81.29 and a beta of 0.75. USA Technologies, Inc. has a 12 month low of $5.32 and a 12 month high of $16.83. The company has a current ratio of 1.34, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.
About USA Technologies
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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