Net 1 UEPS Technologies, Inc. (UEPS) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Net 1 UEPS Technologies, Inc. (NASDAQ:UEPS) from a hold rating to a buy rating in a research note published on Saturday, June 10th. They currently have $11.00 target price on the business services provider’s stock.

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, TheStreet lowered shares of Net 1 UEPS Technologies from a b rating to a c+ rating in a research note on Thursday, May 4th.

Shares of Net 1 UEPS Technologies (NASDAQ:UEPS) opened at 9.67 on Friday. The firm has a 50-day moving average of $9.81 and a 200-day moving average of $11.53. Net 1 UEPS Technologies has a 12-month low of $8.37 and a 12-month high of $13.81. The company has a market cap of $548.14 million, a P/E ratio of 5.92 and a beta of 0.74.

Net 1 UEPS Technologies (NASDAQ:UEPS) last released its quarterly earnings data on Thursday, May 4th. The business services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $147.90 million for the quarter, compared to analyst estimates of $156 million. Net 1 UEPS Technologies had a net margin of 14.19% and a return on equity of 15.31%. Net 1 UEPS Technologies’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. Analysts predict that Net 1 UEPS Technologies will post $1.78 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in UEPS. Morgan Stanley raised its position in shares of Net 1 UEPS Technologies by 0.4% in the first quarter. Morgan Stanley now owns 292,431 shares of the business services provider’s stock worth $3,577,000 after buying an additional 1,269 shares during the period. Credit Suisse AG raised its position in shares of Net 1 UEPS Technologies by 9.2% in the first quarter. Credit Suisse AG now owns 29,878 shares of the business services provider’s stock worth $366,000 after buying an additional 2,505 shares during the period. California Public Employees Retirement System raised its position in shares of Net 1 UEPS Technologies by 1.2% in the first quarter. California Public Employees Retirement System now owns 312,900 shares of the business services provider’s stock worth $3,827,000 after buying an additional 3,700 shares during the period. Trexquant Investment LP raised its position in shares of Net 1 UEPS Technologies by 38.5% in the first quarter. Trexquant Investment LP now owns 14,400 shares of the business services provider’s stock worth $176,000 after buying an additional 4,000 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Net 1 UEPS Technologies by 3.6% in the fourth quarter. AQR Capital Management LLC now owns 128,414 shares of the business services provider’s stock worth $1,474,000 after buying an additional 4,488 shares during the period. Institutional investors and hedge funds own 57.24% of the company’s stock.

Net 1 UEPS Technologies Company Profile

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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