Bank of America Downgrades PagSeguro Digital (NYSE:PAGS) to Neutral

PagSeguro Digital (NYSE:PAGS) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $10.00 price objective on the stock. Bank of America‘s price target indicates a potential upside of 7.58% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Wall Street Zen downgraded PagSeguro Digital from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded shares of PagSeguro Digital from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Autonomous Res lowered shares of PagSeguro Digital from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of PagSeguro Digital from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PagSeguro Digital has an average rating of “Hold” and a consensus price target of $11.40.

PagSeguro Digital Trading Up 0.2%

Shares of PAGS stock opened at $9.29 on Wednesday. The stock has a market capitalization of $2.60 billion, a P/E ratio of 6.83, a PEG ratio of 0.37 and a beta of 1.32. The firm’s 50 day moving average is $9.10 and its 200 day moving average is $9.96. PagSeguro Digital has a 12 month low of $7.74 and a 12 month high of $12.32.

PagSeguro Digital (NYSE:PAGS) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). PagSeguro Digital had a return on equity of 16.44% and a net margin of 10.40%.The business had revenue of $642.01 million during the quarter, compared to the consensus estimate of $952.64 million. On average, equities analysts predict that PagSeguro Digital will post 1.7 EPS for the current year.

Insider Activity

In other news, Director Alexandre Mr Magnani sold 200,000 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $11.26, for a total transaction of $2,252,000.00. Following the transaction, the director directly owned 607,390 shares in the company, valued at approximately $6,839,211.40. This represents a 24.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of PagSeguro Digital

Several hedge funds and other institutional investors have recently bought and sold shares of PAGS. Confluence Investment Management LLC purchased a new position in shares of PagSeguro Digital during the second quarter worth approximately $125,000. Bank of America Corp DE boosted its stake in shares of PagSeguro Digital by 15.4% in the 1st quarter. Bank of America Corp DE now owns 479,554 shares of the company’s stock valued at $4,805,000 after purchasing an additional 63,981 shares in the last quarter. Amundi boosted its stake in shares of PagSeguro Digital by 6.0% in the 1st quarter. Amundi now owns 54,586 shares of the company’s stock valued at $547,000 after purchasing an additional 3,067 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of PagSeguro Digital by 3.7% during the 1st quarter. Royal Bank of Canada now owns 56,092 shares of the company’s stock valued at $562,000 after purchasing an additional 1,998 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of PagSeguro Digital by 25.1% during the 1st quarter. Quantinno Capital Management LP now owns 103,994 shares of the company’s stock valued at $1,042,000 after purchasing an additional 20,893 shares during the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

About PagSeguro Digital

PagSeguro Digital Ltd. is a Brazil-based financial technology company that specializes in digital payment solutions for merchants and consumers. Through its online platform and a suite of physical point-of-sale devices, the company enables businesses of all sizes to accept credit and debit cards, process e-commerce transactions, and manage payments via QR codes and digital wallets. In addition to payment acceptance, PagSeguro offers prepaid accounts, funds transfers, and working-capital credit lines designed to support small and medium-sized enterprises.

The company’s product portfolio includes portable card readers, countertop terminals, and mobile point-of-sale devices that connect via Bluetooth or cellular networks.