Millennium Management LLC raised its position in Net 1 UEPS Technologies Inc (NASDAQ:UEPS) by 224.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700,170 shares of the business services provider’s stock after buying an additional 484,253 shares during the quarter. Millennium Management LLC owned 1.23% of Net 1 UEPS Technologies worth $6,358,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in Net 1 UEPS Technologies by 9.3% in the 1st quarter. BlackRock Inc. now owns 118,052 shares of the business services provider’s stock valued at $1,116,000 after buying an additional 10,029 shares in the last quarter. Daiwa SB Investments Ltd. grew its holdings in Net 1 UEPS Technologies by 68.8% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 372,897 shares of the business services provider’s stock valued at $3,386,000 after buying an additional 151,963 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Net 1 UEPS Technologies by 22.9% in the 1st quarter. JPMorgan Chase & Co. now owns 71,369 shares of the business services provider’s stock valued at $675,000 after buying an additional 13,299 shares in the last quarter. Paloma Partners Management Co acquired a new position in Net 1 UEPS Technologies in the 2nd quarter valued at $233,000. Finally, Lyon Street Capital LLC grew its holdings in Net 1 UEPS Technologies by 45.0% in the 1st quarter. Lyon Street Capital LLC now owns 249,268 shares of the business services provider’s stock valued at $2,358,000 after buying an additional 77,400 shares in the last quarter. 53.95% of the stock is currently owned by hedge funds and other institutional investors.
UEPS opened at $6.93 on Friday. The firm has a market cap of $450.96 million, a PE ratio of 4.12 and a beta of 1.19. Net 1 UEPS Technologies Inc has a 52-week low of $5.90 and a 52-week high of $13.20. The company has a current ratio of 1.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01.
Net 1 UEPS Technologies (NASDAQ:UEPS) last released its earnings results on Wednesday, August 29th. The business services provider reported $0.21 earnings per share (EPS) for the quarter. The company had revenue of $149.19 million for the quarter. Net 1 UEPS Technologies had a return on equity of 13.96% and a net margin of 6.39%.
In other Net 1 UEPS Technologies news, CEO Herman Kotze acquired 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was acquired at an average cost of $6.74 per share, for a total transaction of $80,880.00. Following the transaction, the chief executive officer now directly owns 481,000 shares in the company, valued at $3,241,940. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher Stefan Seabrooke acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were acquired at an average price of $7.48 per share, with a total value of $149,600.00. Following the completion of the transaction, the director now owns 18,124 shares in the company, valued at $135,567.52. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 33,036 shares of company stock valued at $238,064. 3.18% of the stock is owned by corporate insiders.
A number of brokerages have commented on UEPS. BidaskClub raised Net 1 UEPS Technologies from a “sell” rating to a “hold” rating in a report on Friday, September 28th. Maxim Group reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Net 1 UEPS Technologies in a report on Thursday, September 27th. ValuEngine raised Net 1 UEPS Technologies from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. Finally, Sidoti initiated coverage on Net 1 UEPS Technologies in a report on Thursday, June 28th. They set a “buy” rating and a $18.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Net 1 UEPS Technologies currently has an average rating of “Hold” and an average target price of $15.50.
Net 1 UEPS Technologies Company Profile
Net 1 UEPS Technologies, Inc provides payment solutions, transaction processing services, and financial technologies to various industries in South Africa, South Korea, and internationally. The company develops and markets transaction processing solutions that comprise 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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