Texas Permanent School Fund Corp Cuts Position in Payoneer Global Inc. (NASDAQ:PAYO)

Texas Permanent School Fund Corp trimmed its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 11.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 201,026 shares of the company’s stock after selling 26,962 shares during the period. Texas Permanent School Fund Corp owned about 0.05% of Payoneer Global worth $1,114,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PAYO. Charles Schwab Investment Management Inc. increased its stake in Payoneer Global by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,084,799 shares of the company’s stock valued at $10,862,000 after purchasing an additional 9,660 shares during the last quarter. Principal Financial Group Inc. increased its stake in Payoneer Global by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,515,870 shares of the company’s stock valued at $7,898,000 after purchasing an additional 14,890 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Payoneer Global by 216.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 124,954 shares of the company’s stock valued at $651,000 after purchasing an additional 85,450 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Payoneer Global in the fourth quarter valued at approximately $2,201,000. Finally, Allianz Asset Management GmbH increased its stake in Payoneer Global by 43.5% in the fourth quarter. Allianz Asset Management GmbH now owns 906,735 shares of the company’s stock valued at $4,724,000 after purchasing an additional 274,942 shares during the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAYO has been the topic of several recent analyst reports. Needham & Company LLC increased their price target on shares of Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods increased their price target on shares of Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Citigroup increased their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group increased their price objective on Payoneer Global from $6.50 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Northland Securities increased their price objective on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Payoneer Global has a consensus rating of “Buy” and an average target price of $8.50.

Payoneer Global Stock Performance

PAYO stock opened at $7.58 on Friday. The company has a market capitalization of $2.83 billion, a P/E ratio of 25.07 and a beta of 0.85. Payoneer Global Inc. has a twelve month low of $4.22 and a twelve month high of $7.67. The business has a 50 day simple moving average of $6.53 and a 200-day simple moving average of $5.69.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm had revenue of $239.50 million during the quarter, compared to the consensus estimate of $223.12 million. During the same period last year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts predict that Payoneer Global Inc. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott H. Galit sold 390,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $5.44, for a total transaction of $2,121,600.00. Following the completion of the sale, the director now directly owns 2,122,421 shares of the company’s stock, valued at $11,545,970.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Scott H. Galit sold 390,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $5.44, for a total transaction of $2,121,600.00. Following the completion of the sale, the director now directly owns 2,122,421 shares of the company’s stock, valued at $11,545,970.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott H. Galit sold 10,601 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $5.52, for a total value of $58,517.52. Following the sale, the director now directly owns 2,122,421 shares of the company’s stock, valued at $11,715,763.92. The disclosure for this sale can be found here. Insiders sold a total of 1,890,082 shares of company stock valued at $10,516,245 over the last three months. 5.57% of the stock is currently owned by company insiders.

About Payoneer Global

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.