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 raised shares of Net 1 UEPS Technologies from a neutral rating to a buy rating in a report on Thursday, May 21st.
NASDAQ:UEPS opened at $3.14 on Wednesday. The company has a 50-day moving average of $3.18 and a 200-day moving average of $3.46. Net 1 UEPS Technologies has a 52 week low of $2.70 and a 52 week high of $4.45. The company has a quick ratio of 2.38, a current ratio of 2.52 and a debt-to-equity ratio of 0.01.
Net 1 UEPS Technologies (NASDAQ:UEPS) last released its quarterly earnings data on Tuesday, May 26th. The business services provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Net 1 UEPS Technologies had a negative return on equity of 67.58% and a negative net margin of 72.04%. The business had revenue of $36.51 million for the quarter, compared to the consensus estimate of $45.99 million. Equities research analysts predict that Net 1 UEPS Technologies will post -1.28 earnings per share for the current fiscal year.
In related news, major shareholder Value Capital Partners (Pty) L bought 2,103,069 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $3.38 per share, with a total value of $7,108,373.22. Insiders own 2.91% of the company’s stock.
Several large investors have recently modified their holdings of UEPS. LexAurum Advisors LLC bought a new position in Net 1 UEPS Technologies in the first quarter valued at approximately $30,000. Oxford Asset Management LLP bought a new stake in shares of Net 1 UEPS Technologies in the fourth quarter worth $108,000. Assenagon Asset Management S.A. lifted its position in shares of Net 1 UEPS Technologies by 19.6% in the first quarter. Assenagon Asset Management S.A. now owns 43,182 shares of the business services provider’s stock worth $126,000 after purchasing an additional 7,062 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Net 1 UEPS Technologies by 84.1% in the fourth quarter. Geode Capital Management LLC now owns 67,545 shares of the business services provider’s stock worth $251,000 after purchasing an additional 30,847 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of Net 1 UEPS Technologies by 70.8% in the first quarter. WINTON GROUP Ltd now owns 178,957 shares of the business services provider’s stock worth $521,000 after purchasing an additional 74,170 shares in the last quarter. Institutional investors own 41.08% of the company’s stock.
Net 1 UEPS Technologies Company Profile
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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