USA Technologies (USAT) Downgraded by Zacks Investment Research

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USA Technologies (NASDAQ:USAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “USA Technologies is a leader in the networking of distributed assets, wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner. The Company has marketing agreements with Cingular Wireless, Honeywell, MEI, Unilever and ZiLOG Corporation. “

A number of other equities research analysts have also commented on the company. BidaskClub upgraded USA Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. ValuEngine lowered USA Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. USA Technologies presently has an average rating of “Hold” and a consensus target price of $12.92.

Shares of NASDAQ USAT opened at $5.42 on Thursday. USA Technologies has a one year low of $4.94 and a one year high of $16.83. The stock has a market cap of $350.40 million, a price-to-earnings ratio of 83.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.34 and a quick ratio of 1.08.

Several institutional investors and hedge funds have recently bought and sold shares of USAT. Waddell & Reed Financial Inc. purchased a new stake in shares of USA Technologies during the 2nd quarter worth about $20,600,000. Gilder Gagnon Howe & Co. LLC raised its stake in shares of USA Technologies by 364.6% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,635,291 shares of the technology company’s stock worth $22,894,000 after purchasing an additional 1,283,278 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of USA Technologies during the 2nd quarter worth about $17,044,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of USA Technologies during the 3rd quarter worth about $8,566,000. Finally, Allianz Asset Management GmbH raised its stake in shares of USA Technologies by 127.7% during the 1st quarter. Allianz Asset Management GmbH now owns 1,450,659 shares of the technology company’s stock worth $13,056,000 after purchasing an additional 813,622 shares in the last quarter. 74.08% of the stock is owned by institutional investors.

About USA Technologies

USA Technologies, Inc provides wireless networking, cashless transactions, asset monitoring, and other value-added services in the United States and internationally. It designs and markets systems and solutions that facilitate electronic payment options, as well as telemetry and machine-to-machine (M2M) services.

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