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

A number of brokerages have commented on UEPS. Robert W. Baird began coverage on Net 1 UEPS Technologies in a research note on Sunday, May 8th. They set a “buy” rating on the stock. Zacks Investment Research cut Net 1 UEPS Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th.

The stock has a 50 day moving average price of $10.13 and a 200 day moving average price of $10.24. The firm has a market cap of $456.77 million and a price-to-earnings ratio of 5.83.

Other hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group increased 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 valued at $1,732,000 after buying an additional 83,986 shares during the period. Systematic Financial Management LP increased 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 valued at $2,163,000 after buying an additional 27,005 shares during the period. Finally, RS Investment Management Co. LLC increased 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 valued at $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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