Bank of New York Mellon Corp Grows Position in USA Technologies, Inc. (USAT)

Bank of New York Mellon Corp increased its holdings in USA Technologies, Inc. (NASDAQ:USAT) by 17.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,379 shares of the technology company’s stock after purchasing an additional 21,714 shares during the quarter. Bank of New York Mellon Corp’s holdings in USA Technologies were worth $909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Prudential Financial Inc. bought a new stake in shares of USA Technologies in the 3rd quarter worth approximately $121,000. Emerald Advisers Inc. PA increased its position in shares of USA Technologies by 206.2% in the third quarter. Emerald Advisers Inc. PA now owns 37,940 shares of the technology company’s stock worth $237,000 after acquiring an additional 25,550 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of USA Technologies in the third quarter worth approximately $1,889,000. Heartland Advisors Inc. increased its position in shares of USA Technologies by 41.7% in the third quarter. Heartland Advisors Inc. now owns 850,000 shares of the technology company’s stock worth $5,313,000 after acquiring an additional 250,000 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. increased its position in shares of USA Technologies by 8.2% in the third quarter. Thomson Horstmann & Bryant Inc. now owns 750,243 shares of the technology company’s stock worth $4,689,000 after acquiring an additional 57,095 shares in the last quarter. Institutional investors and hedge funds own 51.17% of the company’s stock.

In related news, Director Albin F. Moschner sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $8.46, for a total transaction of $50,760.00. Following the transaction, the director now directly owns 416,926 shares of the company’s stock, valued at $3,527,193.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Albin F. Moschner sold 9,478 shares of the business’s stock in a transaction that occurred on Wednesday, December 26th. The shares were sold at an average price of $9.61, for a total transaction of $91,083.58. Following the transaction, the director now directly owns 352,926 shares in the company, valued at $3,391,618.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,901 shares of company stock worth $1,080,337. 4.38% of the stock is currently owned by insiders.

Several research firms have recently weighed in on USAT. Zacks Investment Research raised shares of USA Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a research report on Friday. Northland Securities set a $12.00 target price on shares of USA Technologies and gave the stock a “buy” rating in a research report on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $11.50.

USA Technologies, Inc. (NASDAQ:USAT) opened at $9.40 on Friday. The firm has a market cap of $504.03, a P/E ratio of 950.95 and a beta of 1.02. The company has a quick ratio of 2.38, a current ratio of 2.67 and a debt-to-equity ratio of 0.01. USA Technologies, Inc. has a 1 year low of $3.80 and a 1 year high of $10.10.

USA Technologies (NASDAQ:USAT) last released its earnings results on Wednesday, November 8th. The technology company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.01. The business had revenue of $25.62 million for the quarter, compared to the consensus estimate of $25.87 million. USA Technologies had a net margin of 0.37% and a return on equity of 1.20%. research analysts predict that USA Technologies, Inc. will post 0.07 EPS for the current year.

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About USA Technologies

USA Technologies, Inc provides technology-enabled solutions and value-added services that facilitate electronic payment transactions within the unattended point of sale (POS) market. The Company is a provider in the small ticket, beverage and food vending industry and is also engaged in offering solutions and services to other unattended market segments, such as amusement, commercial laundry, kiosk and others.

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Institutional Ownership by Quarter for USA Technologies (NASDAQ:USAT)

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