Orbis Allan Gray Ltd Lowers stake in Net 1 UEPS Technologies Inc (UEPS)

Net 1 UEPS Technologies Inc (UEPS) : Orbis Allan Gray Ltd reduced its stake in Net 1 UEPS Technologies Inc by 0.41% during the most recent quarter end. The investment management company now holds a total of 9,063,915 shares of Net 1 UEPS Technologies Inc which is valued at $92,089,376 after selling 37,185 shares in Net 1 UEPS Technologies Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Net 1 UEPS Technologies Inc makes up approximately 0.64% of Orbis Allan Gray Ltd’s portfolio.

Other Hedge Funds, Including , Millennium Management boosted its stake in UEPS in the latest quarter, The investment management firm added 132,793 additional shares and now holds a total of 627,877 shares of Net 1 UEPS Technologies Inc which is valued at $6,379,230. Net 1 UEPS Technologies Inc makes up approx 0.02% of Millennium Management’s portfolio.Geode Capital Management reduced its stake in UEPS by selling 52,429 shares or 36.22% in the most recent quarter. The Hedge Fund company now holds 92,303 shares of UEPS which is valued at $937,798.Blackrock Institutional Trust Company N.a. reduced its stake in UEPS by selling 22,691 shares or 5.73% in the most recent quarter. The Hedge Fund company now holds 373,209 shares of UEPS which is valued at $3,791,803.Penserra Capital Management boosted its stake in UEPS in the latest quarter, The investment management firm added 665 additional shares and now holds a total of 10,128 shares of Net 1 UEPS Technologies Inc which is valued at $105,635. Net 1 UEPS Technologies Inc makes up approx 0.01% of Penserra Capital Management’s portfolio.

Net 1 UEPS Technologies Inc closed down -0.29 points or -2.97% at $9.48 with 2,51,052 shares getting traded on Thursday. Post opening the session at $9.82, the shares hit an intraday low of $9.46 and an intraday high of $9.85 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Net 1 UEPS Technologies Inc reported $0.43 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.44. The company had revenue of $134.70 million for the quarter, compared to analysts expectations of $139.02 million. The company’s revenue was down -10.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.57 EPS.

Net 1 UEPS Technologies Inc. is South Africa-based a provider of payment solutions and transaction processing services across a range of industries and in various geographies. The Company operates in four segments: Smart card accounts International transaction-based activities financial services and Hardware software and related technology sales. The Company’s UEPS technology includes functionality that allows Transparent and automatic recovery of transactions Transaction cancellation; Refunds; Multiple audit trails; Offline loading and spending; Biometric identification; Continuous debit; Multiple wallets; Morphing of other common payment systems such as the EuroPay MasterCard and Visa global standard (EMV); Automatic credit; Automatic debit; Interest calculations; among others.

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