USA Technologies (USAT) Stock Rating Upgraded 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 report report published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $5.25 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. “

Other analysts have also issued research reports about the company. BidaskClub lowered USA Technologies from a hold rating to a sell rating in a report on Tuesday, January 22nd. ValuEngine upgraded USA Technologies from a sell rating to a hold rating in a report on Wednesday, January 2nd. Lake Street Capital reiterated a buy rating on shares of USA Technologies in a report on Tuesday, January 15th. Craig Hallum decreased their price objective on USA Technologies from $16.00 to $11.00 and set a buy rating for the company in a report on Tuesday, January 15th. Finally, Northland Securities lowered USA Technologies from an outperform rating to a market perform rating in a report on Thursday, February 7th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. USA Technologies currently has an average rating of Buy and an average price target of $6.92.

Shares of NASDAQ USAT opened at $4.98 on Friday. The firm has a market cap of $298.20 million, a price-to-earnings ratio of 70.43 and a beta of 1.75. USA Technologies has a 12-month low of $3.19 and a 12-month high of $16.83.

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc raised its stake in USA Technologies by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 2,795,837 shares of the technology company’s stock worth $20,130,000 after acquiring an additional 74,463 shares during the last quarter. Sargent Investment Group LLC purchased a new position in USA Technologies in the 4th quarter worth $3,695,000. Capital International Investors purchased a new position in USA Technologies in the 3rd quarter worth $6,588,000. Franklin Resources Inc. raised its stake in USA Technologies by 119.3% in the 3rd quarter. Franklin Resources Inc. now owns 747,232 shares of the technology company’s stock worth $5,380,000 after acquiring an additional 406,525 shares during the last quarter. Finally, BlackRock Inc. raised its stake in USA Technologies by 7.9% in the 3rd quarter. BlackRock Inc. now owns 3,727,553 shares of the technology company’s stock worth $26,839,000 after acquiring an additional 271,740 shares during the last quarter. Hedge funds and other institutional investors own 68.98% of the company’s stock.

About USA Technologies

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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