Net 1 UEPS Technologies (NASDAQ:UEPS) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Net 1 UEPS Technologies (NASDAQ:UEPS) from a buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Net 1 U.E.P.S. Technologies provides its universal electronic payment system as an alternative payment system for the unbanked and under-banked populations of developing economies. Net 1 believes that it is the first company worldwide to implement a system that can enable the estimated four billion people who generally have limited or no access to a bank account to enter affordably into electronic transactions with each other, government agencies, employers, merchants and other financial service providers. “

Separately, B. Riley upgraded Net 1 UEPS Technologies from a neutral rating to a buy rating in a research note on Thursday, May 21st.

NASDAQ UEPS opened at $3.14 on Wednesday. The company has a fifty day simple moving average of $3.18 and a 200 day simple moving average of $3.46. Net 1 UEPS Technologies has a 12-month low of $2.70 and a 12-month high of $4.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.38.

Net 1 UEPS Technologies (NASDAQ:UEPS) last posted its quarterly earnings results on Tuesday, May 26th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Net 1 UEPS Technologies had a negative net margin of 72.04% and a negative return on equity of 67.58%. The business had revenue of $36.51 million during the quarter, compared to analyst estimates of $45.99 million. On average, equities analysts expect that Net 1 UEPS Technologies will post -1.28 earnings per share for the current year.

In other Net 1 UEPS Technologies news, major shareholder Value Capital Partners (Pty) L bought 2,103,069 shares of the stock in a transaction dated Tuesday, May 19th. The shares were bought at an average cost of $3.38 per share, for a total transaction of $7,108,373.22. Insiders own 2.91% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. LexAurum Advisors LLC bought a new stake in Net 1 UEPS Technologies in the 1st quarter valued at about $30,000. Oxford Asset Management LLP bought a new stake in Net 1 UEPS Technologies in the 4th quarter valued at about $108,000. Assenagon Asset Management S.A. raised its stake in Net 1 UEPS Technologies by 19.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 43,182 shares of the business services provider’s stock valued at $126,000 after acquiring an additional 7,062 shares during the period. Geode Capital Management LLC raised its stake in Net 1 UEPS Technologies by 84.1% in the 4th quarter. Geode Capital Management LLC now owns 67,545 shares of the business services provider’s stock valued at $251,000 after acquiring an additional 30,847 shares during the period. Finally, WINTON GROUP Ltd raised its stake in Net 1 UEPS Technologies by 70.8% in the 1st quarter. WINTON GROUP Ltd now owns 178,957 shares of the business services provider’s stock valued at $521,000 after acquiring an additional 74,170 shares during the period. Institutional investors and hedge funds own 41.08% of the company’s stock.

About Net 1 UEPS Technologies

Net 1 UEPS Technologies, Inc provides transaction processing services, financial inclusion products and services, and secure payment technologies in South Africa, the Republic of Korea, and internationally. The company develops and markets transaction processing solutions, including smart card-based alternative payment systems for the unbanked and under-banked populations of developing economies and for mobile transaction channels.

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