Migdal Insurance & Financial Holdings Ltd. grew its position in Net 1 UEPS Technologies Inc (NASDAQ:UEPS) by 41.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 302,993 shares of the business services provider’s stock after acquiring an additional 88,984 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned about 0.53% of Net 1 UEPS Technologies worth $2,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. United Services Automobile Association purchased a new position in shares of Net 1 UEPS Technologies in the second quarter valued at approximately $111,000. Ingalls & Snyder LLC purchased a new position in shares of Net 1 UEPS Technologies in the third quarter valued at approximately $135,000. Russell Investments Group Ltd. purchased a new position in shares of Net 1 UEPS Technologies in the third quarter valued at approximately $156,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Net 1 UEPS Technologies in the second quarter valued at approximately $158,000. Finally, Paloma Partners Management Co purchased a new position in shares of Net 1 UEPS Technologies in the second quarter valued at approximately $233,000. Institutional investors and hedge funds own 55.05% of the company’s stock.

In other Net 1 UEPS Technologies news, Director Christopher Stefan Seabrooke bought 20,000 shares of Net 1 UEPS Technologies stock in a transaction on Thursday, September 20th. The shares were bought at an average price of $7.48 per share, for a total transaction of $149,600.00. Following the completion of the transaction, the director now directly owns 18,124 shares of the company’s stock, valued at $135,567.52. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Herman Kotze bought 12,000 shares of Net 1 UEPS Technologies stock in a transaction on Wednesday, September 19th. The stock was acquired at an average price of $6.74 per share, for a total transaction of $80,880.00. Following the transaction, the chief executive officer now directly owns 481,000 shares of the company’s stock, valued at $3,241,940. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 39,036 shares of company stock worth $265,244. 3.46% of the stock is currently owned by company insiders.

Shares of Net 1 UEPS Technologies stock opened at $4.82 on Monday. Net 1 UEPS Technologies Inc has a one year low of $4.43 and a one year high of $13.20. The company has a market cap of $273.94 million, a P/E ratio of 3.15 and a beta of 1.32. The company has a current ratio of 1.38, a quick ratio of 1.34 and a debt-to-equity ratio of 0.01.

Net 1 UEPS Technologies (NASDAQ:UEPS) last announced its quarterly earnings data on Thursday, November 8th. The business services provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.13). Net 1 UEPS Technologies had a return on equity of 10.61% and a net margin of 2.47%. The company had revenue of $125.88 million for the quarter, compared to analysts’ expectations of $145.03 million. During the same quarter in the previous year, the business posted $0.43 EPS. The business’s quarterly revenue was down 17.5% compared to the same quarter last year.

Several research firms have recently weighed in on UEPS. TheStreet downgraded Net 1 UEPS Technologies from a “c” rating to a “d+” rating in a research report on Friday, November 9th. Maxim Group set a $18.00 price objective on Net 1 UEPS Technologies and gave the stock a “buy” rating in a research report on Friday, November 9th. BidaskClub downgraded Net 1 UEPS Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, October 13th. Finally, ValuEngine upgraded Net 1 UEPS Technologies from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Net 1 UEPS Technologies currently has a consensus rating of “Hold” and an average price target of $15.50.

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About Net 1 UEPS Technologies

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.

See Also: Hedge Funds

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Institutional Ownership by Quarter for Net 1 UEPS Technologies (NASDAQ:UEPS)

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