Payoneer Global Inc. $PAYO Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has increased its stake in Payoneer Global Inc. by 44%, acquiring an additional 93,524 shares to own a total of 306,202 shares valued at $2.24 million.
• Multiple large investment firms including Invesco Ltd. and SG Americas Securities LLC have significantly boosted their holdings in Payoneer Global during the first quarter, indicative of strong institutional interest in the company.
• Payoneer Global recently reported quarterly earnings of $0.05 EPS, falling short of expectations, but its revenue of $260.61 million exceeded forecasts by $7.44 million, reflecting an 8.8% year-over-year increase.

Intech Investment Management LLC raised its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 44.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,202 shares of the company's stock after acquiring an additional 93,524 shares during the period. Intech Investment Management LLC owned approximately 0.08% of Payoneer Global worth $2,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Payoneer Global by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,593,475 shares of the company's stock valued at $11,648,000 after purchasing an additional 44,087 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Payoneer Global by 136.4% in the 1st quarter. Invesco Ltd. now owns 2,343,706 shares of the company's stock valued at $17,132,000 after purchasing an additional 1,352,438 shares during the period. Aspen Capital Management LLC acquired a new position in shares of Payoneer Global in the 1st quarter valued at about $1,420,000. SG Americas Securities LLC raised its stake in Payoneer Global by 2,262.5% during the 1st quarter. SG Americas Securities LLC now owns 1,215,581 shares of the company's stock worth $8,886,000 after buying an additional 1,164,128 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Payoneer Global by 559.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock worth $62,000 after buying an additional 7,195 shares during the period. Institutional investors own 82.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PAYO shares. Deutsche Bank Aktiengesellschaft started coverage on Payoneer Global in a report on Thursday, July 17th. They issued a "buy" rating and a $8.00 target price for the company. Needham & Company LLC increased their price objective on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen downgraded Payoneer Global from a "hold" rating to a "sell" rating in a research report on Tuesday, September 9th. Finally, Jefferies Financial Group raised their price target on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $10.06.

Payoneer Global Trading Down 0.8%

Shares of NASDAQ PAYO traded down $0.05 during mid-day trading on Friday, reaching $6.59. The company had a trading volume of 9,931,681 shares, compared to its average volume of 2,791,050. The firm has a 50 day simple moving average of $6.73 and a two-hundred day simple moving average of $6.84. The stock has a market cap of $2.37 billion, a P/E ratio of 25.35, a PEG ratio of 8.74 and a beta of 0.98. Payoneer Global Inc. has a 52-week low of $5.71 and a 52-week high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its 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). Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The firm had revenue of $260.61 million during the quarter, compared to analysts' expectations of $253.17 million. During the same period in the previous year, the firm earned $0.09 EPS. The firm's revenue was up 8.8% on a year-over-year basis. On average, equities analysts expect that Payoneer Global Inc. will post 0.34 EPS for the current 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.