USA Technologies (USAT) Upgraded by Zacks Investment Research to “Buy”

USA Technologies (NASDAQ:USAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $10.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.36% from the company’s previous close.

According to Zacks, “USA Technologies is a leader in the networking of distributed assets, wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner. The Company has marketing agreements with Cingular Wireless, Honeywell, MEI, Unilever and ZiLOG Corporation. “

A number of other equities research analysts also recently commented on USAT. BidaskClub downgraded shares of USA Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Northland Securities set a $12.00 price target on shares of USA Technologies and gave the stock a “buy” rating in a report on Monday, December 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. USA Technologies has an average rating of “Buy” and a consensus target price of $11.00.

Shares of USA Technologies (USAT) traded down $0.10 during midday trading on Friday, hitting $8.90. 896,668 shares of the stock were exchanged, compared to its average volume of 425,466. The stock has a market capitalization of $482.58, a P/E ratio of -37.08 and a beta of 0.65. USA Technologies has a 1-year low of $3.80 and a 1-year high of $10.10. The company has a current ratio of 2.67, a quick ratio of 2.38 and a debt-to-equity ratio of 0.01.

USA Technologies (NASDAQ:USAT) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $32.51 million during the quarter, compared to the consensus estimate of $31.38 million. USA Technologies had a negative net margin of 10.39% and a positive return on equity of 2.44%. analysts expect that USA Technologies will post 0.07 EPS for the current fiscal year.

In related news, Director Albin F. Moschner sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $8.47, for a total value of $67,760.00. Following the completion of the sale, the director now directly owns 416,926 shares in the company, valued at $3,531,363.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Albin F. Moschner sold 9,478 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $9.61, for a total transaction of $91,083.58. Following the completion of the sale, the director now owns 352,926 shares of the company’s stock, valued at $3,391,618.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,901 shares of company stock valued at $1,080,337. Insiders own 4.38% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Orinda Asset Management LLC purchased a new stake in USA Technologies in the fourth quarter valued at approximately $1,267,000. Russell Investments Group Ltd. purchased a new stake in USA Technologies in the fourth quarter valued at approximately $137,000. Heartland Advisors Inc. purchased a new stake in USA Technologies in the first quarter valued at approximately $2,550,000. Wells Fargo & Company MN grew its holdings in USA Technologies by 10.4% in the first quarter. Wells Fargo & Company MN now owns 617,893 shares of the technology company’s stock valued at $2,626,000 after purchasing an additional 58,070 shares during the period. Finally, Axiom International Investors LLC DE purchased a new stake in USA Technologies in the third quarter valued at approximately $1,954,000. Hedge funds and other institutional investors own 50.77% of the company’s stock.

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About USA Technologies

USA Technologies, Inc provides technology-enabled solutions and value-added services that facilitate electronic payment transactions within the unattended point of sale (POS) market. The Company is a provider in the small ticket, beverage and food vending industry and is also engaged in offering solutions and services to other unattended market segments, such as amusement, commercial laundry, kiosk and others.

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