Financial Sector Review: Cash America’s Downgrade, Cash Payment Services Award
Net 1 UEPS Tech., Inc. (NASDAQ:UEPS) announced that its wholly owned subsidiary, Cash Paymaster Services, or CPS, has received a Letter of Award from the South African Social Security Agency, or SASSA, for the provision of payment services for social grants in all of South Africa’s nine provinces for a period of five years. The tender award is subject to the usual execution of a service level agreement by Jan. 31.
The shares closed at $8.92, up $2.2, or 32.74%, on the day. Its market capitalization is $401.42 million.
FBR Capital downgraded Cash America Intl., Inc. (NYSE:CSH) and lowered its price target for shares to $50 from $65 following the company’s pre-announced Q4 earnings miss.
The shares closed at $41.50, down $2.6, or 5.9%, on the day. Its market capitalization is $1.22 billion.
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