Net 1 UEPS Technologies Inc. (NASDAQ:UEPS) shares shot up 2% during mid-day trading on Wednesday . The company traded as high as $10.35 and last traded at $10.34, with a volume of 71,034 shares. The stock had previously closed at $10.14.

A number of brokerages recently issued reports on UEPS. Robert W. Baird began coverage on shares of Net 1 UEPS Technologies in a research note on Sunday, May 8th. They issued a “buy” rating for the company. Zacks Investment Research upgraded shares of Net 1 UEPS Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, March 16th. Finally, TheStreet downgraded shares of Net 1 UEPS Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, April 5th.

The firm has a 50 day moving average of $10.21 and a 200 day moving average of $10.44. The company has a market capitalization of $463.52 million and a price-to-earnings ratio of 5.91.

Net 1 UEPS Technologies (NASDAQ:UEPS) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. During the same quarter in the prior year, the firm posted $0.57 EPS. The firm had revenue of $134.70 million for the quarter, compared to analyst estimates of $139.02 million. Net 1 UEPS Technologies’s revenue for the quarter was down 10.9% on a year-over-year basis. Analysts expect that Net 1 UEPS Technologies Inc. will post $1.85 earnings per share for the current fiscal year.

Other hedge funds and institutional investors recently made changes to their positions in the company. Systematic Financial Management LP raised its position in shares of Net 1 UEPS Technologies by 20.3% in the fourth quarter. Systematic Financial Management LP now owns 160,150 shares of the company’s stock valued at $2,163,000 after buying an additional 27,005 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Net 1 UEPS Technologies by 2,082.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 142,123 shares of the company’s stock valued at $1,919,000 after buying an additional 135,612 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Net 1 UEPS Technologies by 20.3% in the fourth quarter. New York State Common Retirement Fund now owns 133,930 shares of the company’s stock valued at $1,809,000 after buying an additional 22,570 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Net 1 UEPS Technologies by 190.0% in the fourth quarter. Schroder Investment Management Group now owns 128,186 shares of the company’s stock valued at $1,732,000 after buying an additional 83,986 shares during the last quarter. Finally, Bailard Inc. bought a new position in shares of Net 1 UEPS Technologies during the fourth quarter valued at $1,632,000.

Net 1 UEPS Technologies, Inc is South Africa-based a provider of payment solutions and transaction processing services across a range of industries and in various geographies. The Company operates in four segments: Smart card accounts, International transaction-based activities, financial services and Hardware, software and related technology sales.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.