Alliancebernstein L.P. Increases Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

Alliancebernstein L.P. raised its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 760,797 shares of the company's stock after purchasing an additional 116,063 shares during the period. Alliancebernstein L.P. owned 0.21% of Payoneer Global worth $7,638,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. grew its position in Payoneer Global by 24.8% in the 4th quarter. American Century Companies Inc. now owns 8,166,652 shares of the company's stock valued at $81,993,000 after purchasing an additional 1,624,948 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Payoneer Global by 200.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,470,347 shares of the company's stock worth $34,842,000 after acquiring an additional 2,313,481 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Payoneer Global by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,428,185 shares of the company's stock valued at $24,379,000 after acquiring an additional 91,029 shares in the last quarter. Norges Bank bought a new position in Payoneer Global in the 4th quarter valued at about $18,130,000. Finally, Principal Financial Group Inc. boosted its stake in Payoneer Global by 5.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,549,388 shares of the company's stock valued at $15,556,000 after purchasing an additional 86,620 shares during the last quarter. Institutional investors and hedge funds own 82.22% of the company's stock.

Insiders Place Their Bets

In other news, CFO Beatrice Ordonez sold 85,000 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total transaction of $884,000.00. Following the transaction, the chief financial officer now owns 2,305,245 shares of the company's stock, valued at $23,974,548. This represents a 3.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PAYO. The Goldman Sachs Group dropped their target price on Payoneer Global from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price objective on Payoneer Global from $10.00 to $8.00 and set a "market perform" rating on the stock in a research note on Monday, March 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a report on Monday, February 3rd. They set a "buy" rating and a $13.00 price objective on the stock. Wolfe Research downgraded shares of Payoneer Global from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Finally, Citigroup boosted their price target on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Payoneer Global presently has an average rating of "Moderate Buy" and a consensus price target of $12.36.

Payoneer Global Stock Down 1.5 %

PAYO traded down $0.10 during trading on Thursday, hitting $6.31. 506,840 shares of the company traded hands, compared to its average volume of 3,010,527. Payoneer Global Inc. has a one year low of $4.79 and a one year high of $11.29. The stock's fifty day moving average is $8.00 and its 200 day moving average is $9.19. The firm has a market cap of $2.27 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 2.88 and a beta of 1.02.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $261.74 million for the quarter, compared to the consensus estimate of $242.14 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. During the same period in the prior year, the company earned $0.05 earnings per share. On average, equities research analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Payoneer Global Company 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.