Massachusetts Financial Services Co. MA Invests $8.57 Million in USA Technologies, Inc. (USAT) Stock

Massachusetts Financial Services Co. MA bought a new stake in shares of USA Technologies, Inc. (NASDAQ:USAT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,189,757 shares of the technology company’s stock, valued at approximately $8,566,000.

A number of other hedge funds have also made changes to their positions in the business. Northern Trust Corp boosted its stake in shares of USA Technologies by 2.9% in the first quarter. Northern Trust Corp now owns 559,612 shares of the technology company’s stock valued at $5,037,000 after buying an additional 15,954 shares during the period. BlackRock Inc. boosted its stake in shares of USA Technologies by 33.7% in the first quarter. BlackRock Inc. now owns 3,118,797 shares of the technology company’s stock valued at $28,070,000 after buying an additional 785,778 shares during the period. California Public Employees Retirement System boosted its stake in shares of USA Technologies by 33.1% in the first quarter. California Public Employees Retirement System now owns 178,333 shares of the technology company’s stock valued at $1,605,000 after buying an additional 44,333 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of USA Technologies by 127.7% in the first quarter. Allianz Asset Management GmbH now owns 1,450,659 shares of the technology company’s stock valued at $13,056,000 after buying an additional 813,622 shares during the period. Finally, Fortaleza Asset Management Inc. bought a new stake in shares of USA Technologies in the second quarter valued at approximately $158,000. 74.08% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the company. BidaskClub upgraded USA Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Zacks Investment Research upgraded USA Technologies from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Friday, October 12th. Finally, ValuEngine downgraded shares of USA Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $12.92.

Shares of NASDAQ:USAT opened at $5.84 on Thursday. The firm has a market cap of $354.01 million, a PE ratio of 84.29 and a beta of 0.93. USA Technologies, Inc. has a 52-week low of $5.32 and a 52-week high of $16.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.34 and a quick ratio of 1.08.

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USA Technologies 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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Institutional Ownership by Quarter for USA Technologies (NASDAQ:USAT)

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