Net 1 UEPS Technologies (UEPS) Shares Down 6.2%

Shares of Net 1 UEPS Technologies Inc (NASDAQ:UEPS) were down 6.2% during trading on Wednesday . The company traded as low as $11.20 and last traded at $11.50. Approximately 879,164 shares traded hands during trading, an increase of 34% from the average daily volume of 653,773 shares. The stock had previously closed at $12.26.

A number of analysts have commented on UEPS shares. ValuEngine raised shares of Net 1 UEPS Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 22nd. Sidoti started coverage on shares of Net 1 UEPS Technologies in a report on Monday, November 20th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Net 1 UEPS Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a report on Saturday, November 18th. BidaskClub raised shares of Net 1 UEPS Technologies from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Finally, TheStreet raised shares of Net 1 UEPS Technologies from a “c+” rating to a “b-” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $11.00.

The company has a market capitalization of $654.67, a price-to-earnings ratio of 9.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.35.

Net 1 UEPS Technologies (NASDAQ:UEPS) last announced its earnings results on Thursday, November 9th. The business services provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. Net 1 UEPS Technologies had a net margin of 11.17% and a return on equity of 13.06%. analysts anticipate that Net 1 UEPS Technologies Inc will post 1.58 EPS for the current fiscal year.

In other news, Director Paul Edwards sold 9,000 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $11.36, for a total value of $102,240.00. Following the completion of the sale, the director now directly owns 10,822 shares of the company’s stock, valued at $122,937.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alasdair Jonathan Kemsley Pein sold 6,500 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $11.01, for a total transaction of $71,565.00. Following the completion of the sale, the director now directly owns 29,061 shares of the company’s stock, valued at $319,961.61. The disclosure for this sale can be found here. Corporate insiders own 3.18% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. bought a new position in shares of Net 1 UEPS Technologies during the third quarter worth $466,000. ETF Managers Group LLC bought a new position in shares of Net 1 UEPS Technologies during the second quarter worth $540,000. AHL Partners LLP boosted its position in shares of Net 1 UEPS Technologies by 135.4% during the second quarter. AHL Partners LLP now owns 81,220 shares of the business services provider’s stock worth $801,000 after acquiring an additional 46,721 shares during the last quarter. FMR LLC boosted its position in shares of Net 1 UEPS Technologies by 15.8% during the second quarter. FMR LLC now owns 685,134 shares of the business services provider’s stock worth $6,755,000 after acquiring an additional 93,734 shares during the last quarter. Finally, Aperio Group LLC bought a new position in shares of Net 1 UEPS Technologies during the third quarter worth $357,000. 56.12% of the stock is owned by hedge funds and other institutional investors.

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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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