USA Technologies (USAT) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of USA Technologies (NASDAQ:USAT) from a hold rating to a strong-buy rating in a research report report published on Friday. The firm currently has $11.00 target price on the technology company’s stock.

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. “

Separately, Northland Securities set a $12.00 target price on shares of USA Technologies and gave the company a buy rating in a research report on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $11.50.

Shares of USA Technologies (NASDAQ:USAT) remained flat at $$9.40 on Friday. 293,500 shares of the stock were exchanged, compared to its average volume of 493,878. The stock has a market cap of $504.03, a P/E ratio of 940.94 and a beta of 1.02. 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 has a one year low of $3.80 and a one year high of $10.10.

USA Technologies (NASDAQ:USAT) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.01. The firm had revenue of $25.62 million during the quarter, compared to analyst estimates of $25.87 million. USA Technologies had a net margin of 0.37% and a return on equity of 1.20%. equities analysts forecast that USA Technologies will post 0.07 EPS for the current year.

In other news, Director Albin F. Moschner sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $8.25, for a total transaction of $165,000.00. Following the completion of the transaction, the director now owns 422,926 shares in the company, valued at approximately $3,489,139.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Albin F. Moschner sold 9,478 shares of the firm’s stock in a transaction dated Wednesday, December 26th. The shares were sold at an average price of $9.61, for a total transaction of $91,083.58. Following the transaction, the director now owns 352,926 shares of the company’s stock, valued at approximately $3,391,618.86. The disclosure for this sale can be found here. Insiders sold a total of 120,901 shares of company stock valued at $1,080,337 in the last quarter. 4.38% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of USAT. Axiom International Investors LLC DE acquired a new position in shares of USA Technologies in the third quarter worth about $1,954,000. HighTower Advisors LLC acquired a new position in shares of USA Technologies in the second quarter worth about $1,668,000. Ardsley Advisory Partners acquired a new position in shares of USA Technologies in the second quarter worth about $2,080,000. EAM Investors LLC acquired a new position in shares of USA Technologies in the third quarter worth about $3,096,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of USA Technologies by 16.0% in the second quarter. Wells Fargo & Company MN now owns 716,928 shares of the technology company’s stock worth $3,728,000 after buying an additional 99,035 shares during the period. Institutional investors own 51.17% 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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