USA Technologies, Inc. (NASDAQ:USAT) Stake Lifted by BlackRock Inc.

BlackRock Inc. boosted its stake in shares of USA Technologies, Inc. (NASDAQ:USAT) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,893,655 shares of the technology company’s stock after buying an additional 166,102 shares during the quarter. BlackRock Inc. owned 6.49% of USA Technologies worth $15,146,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC acquired a new position in shares of USA Technologies in the 4th quarter valued at $65,000. LPL Financial LLC acquired a new position in USA Technologies in the 4th quarter valued at about $67,000. Sheets Smith Wealth Management increased its stake in shares of USA Technologies by 88.0% during the 4th quarter. Sheets Smith Wealth Management now owns 20,825 shares of the technology company’s stock valued at $81,000 after acquiring an additional 9,750 shares during the last quarter. Credit Suisse AG increased its stake in shares of USA Technologies by 152.6% during the 3rd quarter. Credit Suisse AG now owns 34,800 shares of the technology company’s stock valued at $251,000 after acquiring an additional 21,022 shares during the last quarter. Finally, MetLife Investment Advisors LLC increased its stake in shares of USA Technologies by 53.8% during the 3rd quarter. MetLife Investment Advisors LLC now owns 36,797 shares of the technology company’s stock valued at $265,000 after acquiring an additional 12,873 shares during the last quarter. 69.34% of the stock is owned by institutional investors.

Shares of NASDAQ:USAT traded down $0.02 during midday trading on Friday, reaching $5.85. The company had a trading volume of 710,971 shares, compared to its average volume of 1,639,995. The firm has a market capitalization of $351.01 million, a price-to-earnings ratio of 84.14 and a beta of 1.89. USA Technologies, Inc. has a 1-year low of $3.19 and a 1-year high of $16.83.

USAT has been the subject of a number of research reports. Zacks Investment Research cut USA Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Northland Securities cut USA Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, February 7th. BidaskClub raised USA Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 13th. Craig Hallum dropped their price target on USA Technologies from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, January 15th. Finally, Lake Street Capital cut USA Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $7.50 to $4.50 in a research note on Monday, February 11th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $7.17.

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

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