Royal Bank Of Canada Cuts PICS (NASDAQ:PICS) Price Target to $16.00

PICS (NASDAQ:PICS) had its price objective reduced by Royal Bank Of Canada from $18.00 to $16.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of PICS from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Wall Street Zen cut PICS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings raised PICS from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Finally, Mizuho set a $18.00 target price on PICS in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $22.50.

PICS Stock Performance

Shares of NASDAQ PICS opened at $10.34 on Tuesday. PICS has a 12 month low of $8.32 and a 12 month high of $19.95. The firm has a fifty day simple moving average of $11.38 and a two-hundred day simple moving average of $12.12.

Insider Activity

In related news, insider Cazotto Andre Augusto purchased 49,500 shares of PICS stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $9.41 per share, for a total transaction of $465,795.00. Following the completion of the acquisition, the insider directly owned 57,700 shares of the company’s stock, valued at $542,957. The trade was a 603.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William Rodney Pruett purchased 25,000 shares of the stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $9.10 per share, with a total value of $227,500.00. Following the transaction, the director owned 25,000 shares in the company, valued at $227,500. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 136,130 shares of company stock worth $1,267,515 over the last three months.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in PICS stock. Readystate Asset Management LP purchased a new stake in shares of PICS (NASDAQ:PICS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 70,000 shares of the company’s stock, valued at approximately $744,000.

PICS Company Profile

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.