Net 1 UEPS Technologies (UEPS) PT Set at $18.00 by Maxim Group

Maxim Group set a $18.00 target price on Net 1 UEPS Technologies (NASDAQ:UEPS) in a research report sent to investors on Friday morning. The brokerage currently has a buy rating on the business services provider’s stock.

A number of other research firms have also recently issued reports on UEPS. ValuEngine raised Net 1 UEPS Technologies from a strong sell rating to a sell rating in a research note on Thursday, August 2nd. BidaskClub cut Net 1 UEPS Technologies from a sell rating to a strong sell rating in a research note on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $15.50.

NASDAQ:UEPS opened at $6.86 on Friday. Net 1 UEPS Technologies has a 1 year low of $5.90 and a 1 year high of $13.20. The company has a quick ratio of 1.47, a current ratio of 1.51 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $397.84 million, a price-to-earnings ratio of 3.61 and a beta of 1.32.

Net 1 UEPS Technologies (NASDAQ:UEPS) last posted its earnings results on Wednesday, August 29th. The business services provider reported $0.21 earnings per share (EPS) for the quarter. Net 1 UEPS Technologies had a return on equity of 13.96% and a net margin of 6.39%. The firm had revenue of $149.19 million during the quarter.

In other news, Director Christopher Stefan Seabrooke acquired 20,000 shares of Net 1 UEPS Technologies stock in a transaction dated Thursday, September 20th. The stock was bought at an average cost of $7.48 per share, with a total value of $149,600.00. Following the completion of the transaction, the director now directly owns 18,124 shares of the company’s stock, valued at $135,567.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Herman Kotze acquired 12,000 shares of Net 1 UEPS Technologies stock in a transaction dated Wednesday, September 19th. The shares were purchased at an average cost of $6.74 per share, with a total value of $80,880.00. Following the completion of the transaction, the chief executive officer now directly owns 481,000 shares of the company’s stock, valued at $3,241,940. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 33,036 shares of company stock valued at $238,064. Insiders own 3.46% of the company’s stock.

Several hedge funds have recently bought and sold shares of UEPS. Foundry Partners LLC acquired a new position in shares of Net 1 UEPS Technologies during the second quarter worth about $5,216,000. Millennium Management LLC boosted its position in shares of Net 1 UEPS Technologies by 224.3% during the second quarter. Millennium Management LLC now owns 700,170 shares of the business services provider’s stock worth $6,358,000 after buying an additional 484,253 shares during the period. Prescott Group Capital Management L.L.C. boosted its position in shares of Net 1 UEPS Technologies by 11.8% during the second quarter. Prescott Group Capital Management L.L.C. now owns 1,898,857 shares of the business services provider’s stock worth $17,242,000 after buying an additional 200,356 shares during the period. Daiwa SB Investments Ltd. boosted its position in shares of Net 1 UEPS Technologies by 68.8% during the second quarter. Daiwa SB Investments Ltd. now owns 372,897 shares of the business services provider’s stock worth $3,386,000 after buying an additional 151,963 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Net 1 UEPS Technologies by 98.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 214,009 shares of the business services provider’s stock worth $1,943,000 after buying an additional 105,926 shares during the period. 53.57% of the stock is owned by institutional investors.

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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