Zacks Investment Research upgraded shares of USA Technologies, Inc. (NASDAQ:USAT) from a strong sell rating to a hold rating in a research report report published on Wednesday morning.
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 research firms have also recently weighed in on USAT. BidaskClub cut USA Technologies from a buy rating to a hold rating in a report on Saturday, August 12th. ValuEngine upgraded USA Technologies from a sell rating to a hold rating in a report on Thursday, July 27th. William Blair started coverage on USA Technologies in a report on Thursday, August 24th. They set an outperform rating for the company. Finally, Northland Securities reiterated a buy rating and set a $7.25 price target on shares of USA Technologies in a report on Tuesday, September 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $7.25.
Shares of USA Technologies (USAT) opened at 6.25 on Wednesday. USA Technologies has a 52-week low of $3.55 and a 52-week high of $6.60. The company’s market capitalization is $312.61 million. The stock’s 50 day moving average price is $5.99 and its 200 day moving average price is $5.32.
USA Technologies (NASDAQ:USAT) last issued its earnings results on Tuesday, August 22nd. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The company had revenue of $34.29 million during the quarter, compared to analysts’ expectations of $33.29 million. USA Technologies had a negative return on equity of 0.81% and a negative net margin of 1.78%. On average, equities research analysts forecast that USA Technologies will post $0.04 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of USA Technologies by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,484,520 shares of the technology company’s stock worth $7,720,000 after purchasing an additional 44,378 shares during the period. Wasatch Advisors Inc. grew its holdings in shares of USA Technologies by 2.7% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,158,378 shares of the technology company’s stock worth $6,024,000 after purchasing an additional 30,000 shares during the period. Heartland Advisors Inc. grew its holdings in shares of USA Technologies by 41.7% during the 3rd quarter. Heartland Advisors Inc. now owns 850,000 shares of the technology company’s stock worth $5,313,000 after purchasing an additional 250,000 shares during the period. Thomson Horstmann & Bryant Inc. grew its holdings in shares of USA Technologies by 8.2% during the 3rd quarter. Thomson Horstmann & Bryant Inc. now owns 750,243 shares of the technology company’s stock worth $4,689,000 after purchasing an additional 57,095 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of USA Technologies by 16.0% during the 2nd quarter. Wells Fargo & Company MN now owns 716,928 shares of the technology company’s stock worth $3,728,000 after purchasing an additional 99,035 shares during the period. Institutional investors and hedge funds own 36.18% of the company’s stock.
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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