Qiwi Plc (QIWI) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Qiwi Plc (NASDAQ:QIWI) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday, October 18th.

According to Zacks, “QIWI plc operates as a provider of next generation payment services primarily in Russia and the CIS. The Company has an integrated network that enables payment services across physical, online and mobile channels. It enables merchants to accept cash and electronic payments from virtual wallets, and operates cash-collecting terminals and kiosks. QIWI plc is based in Moscow, the Russian Federation. “

QIWI has been the topic of a number of other reports. ValuEngine lowered shares of Qiwi Plc from a buy rating to a hold rating in a research note on Friday, September 1st. BidaskClub lowered shares of Qiwi Plc from a buy rating to a hold rating in a research note on Monday, July 17th. VTB Capital raised Qiwi Plc from a hold rating to a buy rating in a report on Friday, August 18th. Finally, Citigroup Inc. downgraded Qiwi Plc from a buy rating to a neutral rating in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $22.67.

Qiwi Plc (NASDAQ:QIWI) traded up $0.08 during midday trading on Wednesday, reaching $16.98. 189,856 shares of the company’s stock were exchanged, compared to its average volume of 233,114. Qiwi Plc has a 52 week low of $11.60 and a 52 week high of $26.55. The firm has a market capitalization of $1,010.00, a PE ratio of 14.32 and a beta of 3.33.

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A number of institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in Qiwi Plc by 2.1% in the second quarter. Citigroup Inc. now owns 48,732 shares of the credit services provider’s stock valued at $1,203,000 after acquiring an additional 990 shares during the period. Northern Trust Corp lifted its position in shares of Qiwi Plc by 19.4% during the 2nd quarter. Northern Trust Corp now owns 20,283 shares of the credit services provider’s stock worth $501,000 after buying an additional 3,296 shares during the period. Eqis Capital Management Inc. increased its holdings in Qiwi Plc by 16.2% during the 3rd quarter. Eqis Capital Management Inc. now owns 26,078 shares of the credit services provider’s stock valued at $442,000 after purchasing an additional 3,644 shares in the last quarter. California Public Employees Retirement System increased its holdings in Qiwi Plc by 5.2% during the 1st quarter. California Public Employees Retirement System now owns 76,900 shares of the credit services provider’s stock valued at $1,319,000 after purchasing an additional 3,800 shares in the last quarter. Finally, State Street Corp increased its holdings in Qiwi Plc by 8.7% during the 2nd quarter. State Street Corp now owns 47,658 shares of the credit services provider’s stock valued at $1,177,000 after purchasing an additional 3,808 shares in the last quarter. 13.90% of the stock is owned by institutional investors.

About Qiwi Plc

QIWI plc is a provider of payment services in Russia and the Commonwealth of Independent States (CIS). The Company’s network enables payment services across physical, online and mobile channels. The Company operates in target markets and customer segments. As of December 31, 2016, the Company had deployed over 17.2 million virtual wallets, over 162,000 kiosks and terminals, and enabled merchants to accept over Russian rubles 70 billion cash and electronic payments monthly.

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