Net 1 UEPS Technologies (UEPS) Shares Up 7.6%

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Net 1 UEPS Technologies Inc (NASDAQ:UEPS) shot up 7.6% on Friday . The stock traded as high as $5.31 and last traded at $5.22. 1,135,333 shares changed hands during mid-day trading, an increase of 208% from the average session volume of 368,693 shares. The stock had previously closed at $4.85.

A number of research analysts have issued reports on the stock. BidaskClub raised shares of Net 1 UEPS Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Maxim Group set a $12.00 price objective on shares of Net 1 UEPS Technologies and gave the stock a “buy” rating in a report on Thursday, November 29th. B. Riley started coverage on shares of Net 1 UEPS Technologies in a report on Friday. They set a “buy” rating and a $10.00 price objective for the company. ValuEngine raised shares of Net 1 UEPS Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, TheStreet lowered shares of Net 1 UEPS Technologies from a “c” rating to a “d+” rating in a report on Friday, November 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $13.20.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.34 and a current ratio of 1.38. The company has a market cap of $277.35 million, a PE ratio of 3.19 and a beta of 1.41.

Net 1 UEPS Technologies (NASDAQ:UEPS) last released its quarterly earnings results on Thursday, November 8th. The business services provider reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Net 1 UEPS Technologies had a return on equity of 10.61% and a net margin of 2.47%. The company had revenue of $125.88 million for the quarter, compared to the consensus estimate of $145.03 million. During the same quarter last year, the firm posted $0.43 earnings per share. The firm’s quarterly revenue was down 17.5% compared to the same quarter last year.

In related news, Director Alasdair Jonathan Kemsley Pein acquired 6,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The shares were purchased at an average cost of $4.53 per share, with a total value of $27,180.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.46% of the company’s stock.

A number of hedge funds have recently bought and sold shares of UEPS. United Services Automobile Association bought a new stake in Net 1 UEPS Technologies in the second quarter worth approximately $111,000. Ingalls & Snyder LLC acquired a new stake in shares of Net 1 UEPS Technologies in the third quarter worth $135,000. Russell Investments Group Ltd. acquired a new stake in shares of Net 1 UEPS Technologies in the third quarter worth $156,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Net 1 UEPS Technologies in the second quarter worth $158,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Net 1 UEPS Technologies in the second quarter worth $233,000. 52.11% of the stock is owned by institutional investors.

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About Net 1 UEPS Technologies (NASDAQ:UEPS)

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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