PagSeguro Digital’s (PAGS) “Neutral” Rating Reiterated at Bank of America

Bank of America restated their neutral rating on shares of PagSeguro Digital (NYSE:PAGS) in a research note published on Tuesday morning, Marketbeat reports.

Several other brokerages have also recently weighed in on PAGS. Barclays lowered their price objective on shares of PagSeguro Digital from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. The Goldman Sachs Group lowered their price objective on shares of PagSeguro Digital from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Morgan Stanley reiterated an “underweight” rating and issued a $6.50 price objective (down previously from $14.00) on shares of PagSeguro Digital in a research note on Thursday, September 5th. Itau BBA Securities cut shares of PagSeguro Digital from an “outperform” rating to a “market perform” rating and set a $12.00 target price on the stock. in a research note on Tuesday, October 1st. Finally, KeyCorp upgraded shares of PagSeguro Digital to a “hold” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.36.

PagSeguro Digital Stock Down 0.8 %

Shares of NYSE:PAGS opened at $7.09 on Tuesday. The firm’s 50 day moving average price is $8.00 and its 200-day moving average price is $10.30. PagSeguro Digital has a twelve month low of $6.94 and a twelve month high of $14.98. The stock has a market capitalization of $2.34 billion, a PE ratio of 5.86, a price-to-earnings-growth ratio of 0.36 and a beta of 1.92.

Institutional Investors Weigh In On PagSeguro Digital

A number of institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its holdings in PagSeguro Digital by 55.5% during the 2nd quarter. Marshall Wace LLP now owns 6,994,870 shares of the company’s stock valued at $81,770,000 after buying an additional 2,497,968 shares in the last quarter. State Street Corp grew its holdings in PagSeguro Digital by 50.8% during the 3rd quarter. State Street Corp now owns 5,908,054 shares of the company’s stock valued at $50,868,000 after buying an additional 1,990,849 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of PagSeguro Digital by 26.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 5,478,310 shares of the company’s stock valued at $47,168,000 after purchasing an additional 1,144,590 shares in the last quarter. Millennium Management LLC grew its holdings in shares of PagSeguro Digital by 115.1% in the second quarter. Millennium Management LLC now owns 3,813,901 shares of the company’s stock valued at $44,585,000 after purchasing an additional 2,040,704 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of PagSeguro Digital by 49.1% in the third quarter. Geode Capital Management LLC now owns 3,379,809 shares of the company’s stock valued at $29,014,000 after purchasing an additional 1,113,103 shares in the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

About PagSeguro Digital

PagSeguro Digital Ltd., together with its subsidiaries, provides financial technology solutions and services for consumers, individual entrepreneurs, micro-merchants, and small and medium-sized companies in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, a digital ecosystem that operates as a closed loop where its clients are able to address their primary day to day financial needs, including receiving and spending funds, and managing and growing their businesses; PagBank digital account, which offers payment and banking services through the PagBank mobile app, as well as centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem; and PlugPag, a tool for medium-sized and larger merchants that enables them to connect their point of sale (POS) device directly to their enterprise resource planning software or sales automation system through Bluetooth.