Timpani Capital Management LLC lifted its stake in USA Technologies, Inc. (NASDAQ:USAT) by 8.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 469,922 shares of the technology company’s stock after buying an additional 36,528 shares during the quarter. USA Technologies makes up about 1.5% of Timpani Capital Management LLC’s holdings, making the stock its 21st biggest holding. Timpani Capital Management LLC’s holdings in USA Technologies were worth $4,229,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Two Sigma Securities LLC acquired a new position in shares of USA Technologies in the 4th quarter worth approximately $118,000. Aperio Group LLC acquired a new position in shares of USA Technologies in the 4th quarter worth approximately $156,000. MetLife Investment Advisors LLC acquired a new position in shares of USA Technologies in the 4th quarter worth approximately $233,000. Centaurus Financial Inc. acquired a new position in shares of USA Technologies in the 4th quarter worth approximately $254,000. Finally, American International Group Inc. raised its holdings in shares of USA Technologies by 25.1% in the 4th quarter. American International Group Inc. now owns 32,660 shares of the technology company’s stock worth $318,000 after buying an additional 6,543 shares in the last quarter. 64.16% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on USAT. Zacks Investment Research cut USA Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. BidaskClub cut USA Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, April 10th. Barrington Research reaffirmed a “buy” rating on shares of USA Technologies in a report on Tuesday, April 3rd. ValuEngine raised USA Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Finally, Northland Securities reaffirmed a “buy” rating and set a $14.00 price target on shares of USA Technologies in a report on Thursday, March 15th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $11.67.
USA Technologies (NASDAQ:USAT) last released its quarterly earnings results on Tuesday, May 8th. The technology company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. USA Technologies had a positive return on equity of 3.60% and a negative net margin of 8.83%. The firm had revenue of $35.80 million during the quarter, compared to analysts’ expectations of $38.29 million. USA Technologies’s quarterly revenue was up 35.1% compared to the same quarter last year. equities research analysts expect that USA Technologies, Inc. will post 0.09 EPS for the current fiscal year.
USA Technologies Company Profile
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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