PICS (NASDAQ:PICS) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of PICS (NASDAQ:PICS) from a buy rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on PICS. Mizuho lowered their price objective on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of PICS in a research note on Friday, October 30th. Zacks Research cut PICS from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Finally, Royal Bank Of Canada reduced their target price on PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

PICS Stock Up 6.6%

PICS traded up $0.46 during midday trading on Friday, hitting $7.42. 822,098 shares of the company were exchanged, compared to its average volume of 881,216. The firm has a market capitalization of $791.94 million and a P/E ratio of 8.43. PICS has a 1-year low of $6.42 and a 1-year high of $19.95. The firm’s 50 day moving average price is $9.96 and its 200-day moving average price is $11.54.

Institutional Investors Weigh In On PICS

Several hedge funds and other institutional investors have recently bought and sold shares of PICS. Marshall Wace LLP boosted its position in shares of PICS by 410.9% during the 3rd quarter. Marshall Wace LLP now owns 991,973 shares of the company’s stock worth $8,412,000 after purchasing an additional 797,823 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of PICS in the 2nd quarter valued at about $3,986,000. Whetstone Capital Advisors LLC bought a new stake in PICS in the 2nd quarter valued at about $2,189,000. Readystate Asset Management LP bought a new stake in PICS in the 2nd quarter valued at about $744,000. Finally, State of Wyoming increased its position in PICS by 23.1% in the 3rd quarter. State of Wyoming now owns 25,322 shares of the company’s stock valued at $215,000 after buying an additional 4,748 shares in the last quarter.

About PICS

PicS N.V. operates as a digital financial services company which provides digital wallet and application for individuals and businesses principally in Brazil. It offers a range of transactional products for its consumers, including Pix, an instant payment system, peer-to-peer between PicPay accounts, bill payments, payroll portability, global account and a payment assistant. PicS N.V., formerly known as Picpay Holdings Netherlands B.V., is based in S?o Paulo, Brazil.