Sidoti Initiates Coverage on Net 1 UEPS Technologies, Inc. (UEPS)
Sidoti assumed coverage on shares of Net 1 UEPS Technologies, Inc. (NASDAQ:UEPS) in a note issued to investors on Monday. The brokerage set a “buy” rating on the business services provider’s stock.
Other equities analysts have also issued reports about the company. BidaskClub raised Net 1 UEPS Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. Zacks Investment Research upgraded Net 1 UEPS Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research report on Saturday. TheStreet upgraded Net 1 UEPS Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, September 26th. Finally, ValuEngine upgraded Net 1 UEPS Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. One analyst has rated the stock with a sell rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $11.00.
Shares of Net 1 UEPS Technologies (NASDAQ:UEPS) traded up $0.27 during midday trading on Monday, reaching $9.69. The company’s stock had a trading volume of 183,800 shares, compared to its average volume of 137,712. Net 1 UEPS Technologies has a 1-year low of $8.87 and a 1-year high of $13.81. The company has a market capitalization of $551.63, a price-to-earnings ratio of 6.02 and a beta of 0.75. The company has a current ratio of 1.35, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05.
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In other news, Director Paul Edwards sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $10.18, for a total transaction of $50,900.00. Following the transaction, the director now directly owns 19,822 shares of the company’s stock, valued at $201,787.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher Stefan Seabrooke sold 24,533 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $9.83, for a total value of $241,159.39. Following the transaction, the director now directly owns 18,124 shares in the company, valued at $178,158.92. The disclosure for this sale can be found here. Company insiders own 3.18% of the company’s stock.
Several large investors have recently made changes to their positions in UEPS. Marshall Wace North America L.P. bought a new position in shares of Net 1 UEPS Technologies during the second quarter valued at about $107,000. Wedbush Securities Inc. bought a new stake in shares of Net 1 UEPS Technologies in the third quarter worth about $117,000. Regal Investment Advisors LLC bought a new stake in shares of Net 1 UEPS Technologies in the third quarter worth about $156,000. Nine Chapters Capital Management LLC bought a new stake in shares of Net 1 UEPS Technologies in the third quarter worth about $190,000. Finally, Macquarie Group Ltd. bought a new stake in shares of Net 1 UEPS Technologies in the third quarter worth about $244,000. 56.42% of the stock is currently owned by hedge funds and other institutional investors.
About Net 1 UEPS Technologies
Net 1 UEPS Technologies, Inc is a provider of payment solutions, transaction processing services and financial technology across multiple industries. The Company develops and markets a transaction processing solution that encompasses 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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