According to Zacks, “Net 1 U.E.P.S. Technologies provides its universal electronic payment system as an alternative payment system for the unbanked and under-banked populations of developing economies. Net 1 believes that it is the first company worldwide to implement a system that can enable the estimated four billion people who generally have limited or no access to a bank account to enter affordably into electronic transactions with each other, government agencies, employers, merchants and other financial service providers. “
UEPS has been the subject of a number of other research reports. B. Riley reiterated a “buy” rating on shares of Net 1 UEPS Technologies in a research report on Wednesday, January 29th. ValuEngine raised Net 1 UEPS Technologies from a “hold” rating to a “buy” rating in a report on Monday.
Net 1 UEPS Technologies (NASDAQ:UEPS) last issued its quarterly earnings data on Thursday, February 6th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.07). Net 1 UEPS Technologies had a negative return on equity of 42.51% and a negative net margin of 66.89%. The business had revenue of $74.10 million during the quarter, compared to analysts’ expectations of $72.34 million. During the same quarter last year, the business posted ($0.88) EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, research analysts forecast that Net 1 UEPS Technologies will post -0.15 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Oxford Asset Management LLP purchased a new position in shares of Net 1 UEPS Technologies during the fourth quarter worth approximately $108,000. Southside Capital LLC boosted its holdings in Net 1 UEPS Technologies by 33.3% during the 4th quarter. Southside Capital LLC now owns 260,000 shares of the business services provider’s stock valued at $862,000 after acquiring an additional 65,000 shares during the period. Charles Schwab Investment Management Inc. grew its position in Net 1 UEPS Technologies by 38.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 710,528 shares of the business services provider’s stock worth $2,644,000 after acquiring an additional 197,279 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in Net 1 UEPS Technologies by 159.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 61,000 shares of the business services provider’s stock worth $227,000 after acquiring an additional 37,500 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Net 1 UEPS Technologies in the 4th quarter worth approximately $134,000. Hedge funds and other institutional investors own 52.16% of the company’s stock.
Net 1 UEPS Technologies Company Profile
Net 1 UEPS Technologies, Inc provides transaction processing services, financial inclusion products and services, and secure payment technologies in South Africa, the Republic of Korea, and internationally. The company develops and markets transaction processing solutions, including smart card-based alternative payment systems for the unbanked and under-banked populations of developing economies and for mobile transaction channels.
Recommended Story: Green Investing
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Net 1 UEPS Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Net 1 UEPS Technologies and related companies with MarketBeat.com's FREE daily email newsletter.