USA Technologies (USAT) Cut to Hold at Zacks Investment Research

USA Technologies (NASDAQ:USAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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 equities research analysts have also weighed in on USAT. ValuEngine lowered shares of USA Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. BidaskClub upgraded shares of USA Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 17th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. USA Technologies currently has an average rating of “Buy” and a consensus target price of $12.92.

Shares of USAT traded down $0.14 on Thursday, reaching $5.70. The company’s stock had a trading volume of 13,750 shares, compared to its average volume of 1,028,432. 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 twelve month low of $5.32 and a twelve month high of $16.83. The firm has a market capitalization of $354.01 million, a PE ratio of 84.29 and a beta of 0.93.

Several institutional investors and hedge funds have recently bought and sold shares of USAT. Waddell & Reed Financial Inc. acquired a new stake in shares of USA Technologies in the 2nd quarter worth about $20,600,000. Gilder Gagnon Howe & Co. LLC grew its position in USA Technologies by 364.6% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,635,291 shares of the technology company’s stock worth $22,894,000 after purchasing an additional 1,283,278 shares in the last quarter. Janus Henderson Group PLC bought a new stake in USA Technologies in the 2nd quarter worth about $17,044,000. Massachusetts Financial Services Co. MA bought a new stake in USA Technologies in the 3rd quarter worth about $8,566,000. Finally, Allianz Asset Management GmbH grew its position in USA Technologies by 127.7% in the 1st quarter. Allianz Asset Management GmbH now owns 1,450,659 shares of the technology company’s stock worth $13,056,000 after purchasing an additional 813,622 shares in the last quarter. Institutional investors own 74.08% 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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