Intech Investment Management LLC Acquires New Holdings in Payoneer Global Inc. (NASDAQ:PAYO)

Intech Investment Management LLC bought a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 60,816 shares of the company’s stock, valued at approximately $458,000.

Other institutional investors have also made changes to their positions in the company. AXA S.A. lifted its holdings in Payoneer Global by 1,394.5% during the 2nd quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after buying an additional 13,227,884 shares in the last quarter. Legion Partners Asset Management LLC purchased a new position in Payoneer Global in the second quarter valued at $12,360,000. American Century Companies Inc. grew its stake in Payoneer Global by 241.5% during the 2nd quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock worth $9,106,000 after purchasing an additional 1,162,481 shares in the last quarter. Millennium Management LLC increased its holdings in Payoneer Global by 17.3% during the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after purchasing an additional 995,366 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Payoneer Global by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock valued at $25,446,000 after purchasing an additional 849,680 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global Stock Down 2.6 %

PAYO stock opened at $10.63 on Tuesday. The firm’s 50-day simple moving average is $9.04 and its 200 day simple moving average is $7.17. The stock has a market cap of $3.79 billion, a PE ratio of 30.31 and a beta of 0.82. Payoneer Global Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. During the same period in the prior year, the business posted $0.05 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. Equities analysts forecast that Payoneer Global Inc. will post 0.32 EPS for the current fiscal year.

Insider Transactions at Payoneer Global

In related news, CAO Itai Perry sold 3,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total transaction of $31,200.00. Following the transaction, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.32, for a total value of $77,400,000.00. Following the completion of the sale, the insider now directly owns 34,197,116 shares of the company’s stock, valued at approximately $352,914,237.12. This represents a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,562,402 shares of company stock valued at $78,043,152 in the last three months. 5.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PAYO has been the topic of a number of recent analyst reports. Needham & Company LLC increased their price objective on Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Benchmark boosted their price target on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods lifted their target price on Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $10.79.

Payoneer Global Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.