American Century Companies Inc. Buys 1,236,598 Shares of Payoneer Global Inc. $PAYO

Key Points

• American Century Companies Inc. increased its stake in Payoneer Global Inc. by 15.1%, acquiring 1,236,598 shares, bringing its total ownership to 9,403,250 shares valued at approximately $68.74 million.
• Insider activity includes Director Susanna Morgan selling 16,180 shares of Payoneer stock for around $109,539, representing a 16.67% decrease in her ownership.
• Research firms have upgraded Payoneer Global's stock ratings, with analysts giving a consensus rating of "Moderate Buy" and an average target price of $10.06.

American Century Companies Inc. raised its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 15.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,403,250 shares of the company's stock after purchasing an additional 1,236,598 shares during the quarter. American Century Companies Inc. owned 2.61% of Payoneer Global worth $68,738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PAYO. LPL Financial LLC lifted its position in Payoneer Global by 14.4% in the fourth quarter. LPL Financial LLC now owns 33,520 shares of the company's stock valued at $337,000 after purchasing an additional 4,230 shares during the last quarter. Wells Fargo & Company MN lifted its position in Payoneer Global by 47.4% in the fourth quarter. Wells Fargo & Company MN now owns 144,336 shares of the company's stock valued at $1,449,000 after purchasing an additional 46,420 shares during the last quarter. Bank of Montreal Can lifted its position in Payoneer Global by 8.6% in the fourth quarter. Bank of Montreal Can now owns 28,613 shares of the company's stock valued at $287,000 after purchasing an additional 2,258 shares during the last quarter. Invesco Ltd. lifted its position in Payoneer Global by 16.6% in the fourth quarter. Invesco Ltd. now owns 991,268 shares of the company's stock valued at $9,952,000 after purchasing an additional 141,376 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in Payoneer Global by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 30,355 shares of the company's stock valued at $305,000 after purchasing an additional 1,663 shares during the last quarter. Institutional investors own 82.22% of the company's stock.

Insiders Place Their Bets

In related news, Director Susanna Morgan sold 16,180 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total value of $109,538.60. Following the sale, the director directly owned 80,902 shares of the company's stock, valued at $547,706.54. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PAYO. Wall Street Zen raised Payoneer Global from a "sell" rating to a "hold" rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a research note on Thursday, July 17th. They set a "buy" rating and a $8.00 target price on the stock. Needham & Company LLC boosted their target price on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Citigroup reissued a "buy" rating and set a $10.00 target price (down from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group boosted their target price on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.06.

Payoneer Global Stock Up 1.9%

Shares of PAYO stock opened at $6.86 on Tuesday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 8.86 and a beta of 0.97. The business's fifty day moving average is $6.75 and its 200 day moving average is $7.36. Payoneer Global Inc. has a twelve month low of $5.71 and a twelve month high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $260.61 million during the quarter, compared to analysts' expectations of $253.17 million. Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%. Payoneer Global's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. Equities research analysts expect that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

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.

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