Net 1 UEPS Technologies Inc. (NASDAQ:UEPS)’s share price dropped 2.3% during trading on Friday . The company traded as low as $10.08 and last traded at $10.19, with a volume of 60,699 shares. The stock had previously closed at $10.43.

Several brokerages recently issued reports on UEPS. Zacks Investment Research upgraded shares of Net 1 UEPS Technologies from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 7th. Robert W. Baird reiterated a “buy” rating on shares of Net 1 UEPS Technologies in a research note on Monday, May 16th.

The stock has a market capitalization of $457.67 million and a price-to-earnings ratio of 5.84. The stock’s 50 day moving average is $10.13 and its 200 day moving average is $10.24.

Other hedge funds have recently modified their holdings of the company. 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 in the last quarter. 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 in the last quarter. Finally, 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 in the last quarter.

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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