Monarch Partners Asset Management LLC lessened its position in shares of USA Technologies, Inc. (NASDAQ:USAT) by 30.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,505 shares of the technology company’s stock after selling 19,420 shares during the period. Monarch Partners Asset Management LLC owned approximately 0.07% of USA Technologies worth $313,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of USAT. Waddell & Reed Financial Inc. bought a new stake in shares of USA Technologies during the second quarter worth approximately $20,600,000. Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of USA Technologies by 364.6% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,635,291 shares of the technology company’s stock worth $22,894,000 after acquiring an additional 1,283,278 shares during the period. Janus Henderson Group PLC bought a new stake in shares of USA Technologies during the second quarter worth approximately $17,044,000. Massachusetts Financial Services Co. MA bought a new stake in shares of USA Technologies during the third quarter worth approximately $8,566,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of USA Technologies by 127.7% during the first quarter. Allianz Asset Management GmbH now owns 1,450,659 shares of the technology company’s stock worth $13,056,000 after acquiring an additional 813,622 shares during the period. Institutional investors own 74.08% of the company’s stock.
Shares of USAT stock opened at $5.90 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.34 and a quick ratio of 1.08. The company has a market capitalization of $355.80 million, a P/E ratio of 84.71 and a beta of 0.93. USA Technologies, Inc. has a 1 year low of $5.32 and a 1 year high of $16.83.
A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded USA Technologies from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Zacks Investment Research upgraded USA Technologies from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a report on Friday, October 12th. Finally, ValuEngine cut USA Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. USA Technologies has an average rating of “Buy” and an average target price of $12.92.
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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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