Net 1 UEPS Technologies Inc. (NASDAQ:UEPS)’s share price shot up 3.5% on Wednesday . The stock traded as high as $10.67 and last traded at $10.47, with a volume of 122,513 shares trading hands. The stock had previously closed at $10.12.

Several brokerages recently weighed in on UEPS. Robert W. Baird began coverage on Net 1 UEPS Technologies in a research note on Sunday, May 8th. They issued a “buy” rating for the company. Zacks Investment Research lowered Net 1 UEPS Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th.

The firm’s 50-day moving average is $10.10 and its 200 day moving average is $10.24. The firm has a market capitalization of $468.48 million and a PE ratio of 5.98.

A number of hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group raised its stake 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 worth $1,732,000 after buying an additional 83,986 shares during the period. New York State Common Retirement Fund raised its stake 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 worth $1,809,000 after buying an additional 22,570 shares during the period. Systematic Financial Management LP raised its stake 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 worth $2,163,000 after buying an additional 27,005 shares during the period. Finally, RS Investment Management Co. LLC raised its stake in shares of Net 1 UEPS Technologies by 32.0% in the fourth quarter. RS Investment Management Co. LLC now owns 223,984 shares of the company’s stock worth $3,026,000 after buying an additional 54,259 shares during the period.

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.

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