Zacks Investment Research Lowers USA Technologies (USAT) to Hold

USA Technologies (NASDAQ:USAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

Several other research firms have also recently weighed in on USAT. BidaskClub cut USA Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Northland Securities set a $12.00 price objective on USA Technologies and gave the stock a “buy” rating in a research report on Monday, December 18th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. USA Technologies has an average rating of “Hold” and an average price target of $11.00.

USA Technologies (USAT) traded up $0.25 on Tuesday, reaching $9.15. The company had a trading volume of 1,108,200 shares, compared to its average volume of 494,632. USA Technologies has a twelve month low of $3.80 and a twelve month 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. The company has a market cap of $477.25, a PE ratio of -38.13 and a beta of 0.65.

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

In other news, Director Albin F. Moschner sold 8,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $8.47, for a total transaction of $67,760.00. Following the sale, the director now directly owns 416,926 shares of the company’s stock, valued at approximately $3,531,363.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Albin F. Moschner sold 6,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $8.46, for a total value of $50,760.00. Following the sale, the director now directly owns 416,926 shares in the company, valued at $3,527,193.96. The disclosure for this sale can be found here. Insiders have sold a total of 120,901 shares of company stock worth $1,080,337 in the last quarter. Company insiders own 4.38% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of USA Technologies by 8.1% during the 4th quarter. BlackRock Inc. now owns 2,333,019 shares of the technology company’s stock worth $22,748,000 after purchasing an additional 175,481 shares in the last quarter. Vanguard Group Inc. boosted its stake in USA Technologies by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,484,520 shares of the technology company’s stock valued at $7,720,000 after buying an additional 44,378 shares in the last quarter. Wasatch Advisors Inc. boosted its stake in USA Technologies by 15.8% in the third quarter. Wasatch Advisors Inc. now owns 1,341,079 shares of the technology company’s stock valued at $8,382,000 after buying an additional 182,701 shares in the last quarter. RK Capital Management LLC acquired a new stake in USA Technologies in the third quarter valued at about $8,027,000. Finally, Cortina Asset Management LLC boosted its stake in USA Technologies by 18.1% in the third quarter. Cortina Asset Management LLC now owns 1,240,613 shares of the technology company’s stock valued at $7,754,000 after buying an additional 190,107 shares in the last quarter. 52.71% of the stock is currently owned by institutional investors.

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USA Technologies Company Profile

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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