Cubist Systematic Strategies LLC Makes New Investment in Net 1 UEPS Technologies Inc (NASDAQ:UEPS)

Cubist Systematic Strategies LLC purchased a new position in shares of Net 1 UEPS Technologies Inc (NASDAQ:UEPS) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 20,800 shares of the business services provider’s stock, valued at approximately $83,000.

Other large investors also recently bought and sold shares of the company. Clear Harbor Asset Management LLC acquired a new position in shares of Net 1 UEPS Technologies during the 2nd quarter worth approximately $94,000. Russell Investments Group Ltd. boosted its stake in shares of Net 1 UEPS Technologies by 30.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 29,670 shares of the business services provider’s stock worth $119,000 after acquiring an additional 7,000 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Net 1 UEPS Technologies by 83.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 121,373 shares of the business services provider’s stock worth $485,000 after acquiring an additional 55,302 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Net 1 UEPS Technologies by 201.5% during the 2nd quarter. GSA Capital Partners LLP now owns 162,291 shares of the business services provider’s stock worth $649,000 after acquiring an additional 108,465 shares during the period. Finally, Southside Capital LLC boosted its stake in shares of Net 1 UEPS Technologies by 290.0% during the 2nd quarter. Southside Capital LLC now owns 195,000 shares of the business services provider’s stock worth $780,000 after acquiring an additional 145,000 shares during the period. 53.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ UEPS opened at $3.06 on Friday. Net 1 UEPS Technologies Inc has a 12 month low of $2.78 and a 12 month high of $7.14. The stock has a 50 day moving average of $3.29 and a 200-day moving average of $3.57. The company has a market capitalization of $173.91 million, a P/E ratio of -0.64 and a beta of 0.73.

Net 1 UEPS Technologies (NASDAQ:UEPS) last issued its earnings results on Thursday, September 26th. The business services provider reported ($2.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($2.35). Net 1 UEPS Technologies had a negative return on equity of 29.70% and a negative net margin of 71.86%. The business had revenue of $71.20 million for the quarter, compared to the consensus estimate of $67.64 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The business’s revenue was down 52.3% compared to the same quarter last year. On average, equities analysts predict that Net 1 UEPS Technologies Inc will post -0.12 EPS for the current fiscal year.

UEPS has been the subject of several research analyst reports. B. Riley set a $7.00 target price on Net 1 UEPS Technologies and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Maxim Group set a $7.00 target price on Net 1 UEPS Technologies and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Zacks Investment Research upgraded Net 1 UEPS Technologies from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research note on Saturday, October 5th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Net 1 UEPS Technologies has an average rating of “Buy” and an average price target of $5.75.

Net 1 UEPS Technologies Company Profile

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.

Featured Article: What is the Moving Average Convergence Divergence (MACD) oscillator?

Want to see what other hedge funds are holding UEPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Net 1 UEPS Technologies Inc (NASDAQ:UEPS).

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

Receive News & Ratings for Net 1 UEPS Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Net 1 UEPS Technologies and related companies with MarketBeat.com's FREE daily email newsletter.