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

Zacks Investment Research upgraded shares of USA Technologies (NASDAQ:USAT) from a hold rating to a buy rating in a research note released on Friday. Zacks Investment Research currently has $7.75 price objective 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. “

A number of other brokerages have also recently commented on USAT. BidaskClub cut USA Technologies from a strong-buy rating to a buy rating in a report on Saturday, June 23rd. ValuEngine cut USA Technologies from a strong-buy rating to a buy rating in a report on Friday, September 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. USA Technologies has a consensus rating of Buy and a consensus target price of $12.92.

NASDAQ USAT traded up $0.28 during trading on Friday, hitting $6.93. 976,742 shares of the stock traded hands, compared to its average volume of 734,477. The stock has a market capitalization of $432.01 million, a PE ratio of -346.50 and a beta of 0.76. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.34 and a quick ratio of 1.08. USA Technologies has a 12-month low of $5.85 and a 12-month high of $16.83.

Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in USA Technologies by 9.0% during the 1st quarter. Wells Fargo & Company MN now owns 1,126,397 shares of the technology company’s stock valued at $10,138,000 after acquiring an additional 93,257 shares during the period. Northern Trust Corp boosted its holdings in USA Technologies by 2.9% during the 1st quarter. Northern Trust Corp now owns 559,612 shares of the technology company’s stock valued at $5,037,000 after acquiring an additional 15,954 shares during the period. BlackRock Inc. boosted its holdings in USA Technologies by 33.7% during the 1st quarter. BlackRock Inc. now owns 3,118,797 shares of the technology company’s stock valued at $28,070,000 after acquiring an additional 785,778 shares during the period. JPMorgan Chase & Co. boosted its holdings in USA Technologies by 156.4% during the 1st quarter. JPMorgan Chase & Co. now owns 336,268 shares of the technology company’s stock valued at $3,027,000 after acquiring an additional 205,131 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in USA Technologies by 33.1% during the 1st quarter. California Public Employees Retirement System now owns 178,333 shares of the technology company’s stock valued at $1,605,000 after acquiring an additional 44,333 shares during the period. Hedge funds and other institutional investors own 72.06% of the company’s stock.

USA Technologies Company Profile

USA Technologies, Inc provides wireless networking, cashless transactions, asset monitoring, and other value-added services in the United States and internationally. It designs and markets systems and solutions that facilitate electronic payment options, as well as telemetry and machine-to-machine (M2M) services.

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