Wright Investors Service Inc. Takes $839,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Wright Investors Service Inc. purchased a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,749 shares of the credit services provider’s stock, valued at approximately $839,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PYPL. Burns J W & Co. Inc. NY purchased a new position in PayPal in the third quarter worth $211,000. Harbor Investment Advisory LLC raised its stake in shares of PayPal by 8.6% during the 3rd quarter. Harbor Investment Advisory LLC now owns 14,807 shares of the credit services provider’s stock worth $1,155,000 after purchasing an additional 1,169 shares during the period. Thrive Wealth Management LLC raised its stake in shares of PayPal by 7.6% during the 3rd quarter. Thrive Wealth Management LLC now owns 6,619 shares of the credit services provider’s stock worth $516,000 after purchasing an additional 470 shares during the period. LifePlan Financial LLC boosted its holdings in shares of PayPal by 6.7% in the 3rd quarter. LifePlan Financial LLC now owns 23,735 shares of the credit services provider’s stock worth $1,852,000 after buying an additional 1,490 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in PayPal by 30.5% during the third quarter. Park Avenue Securities LLC now owns 29,346 shares of the credit services provider’s stock valued at $2,290,000 after buying an additional 6,859 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Up 2.7 %

PYPL traded up $2.05 during midday trading on Friday, reaching $79.36. 10,083,594 shares of the company’s stock traded hands, compared to its average volume of 13,970,383. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $80.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a fifty day moving average of $70.69 and a two-hundred day moving average of $65.60. The stock has a market capitalization of $83.01 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 1.11 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several recent research reports. Robert W. Baird lifted their price objective on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Oppenheimer began coverage on shares of PayPal in a research report on Tuesday. They set a “market perform” rating for the company. UBS Group boosted their price target on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of PayPal from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $69.00 price objective on shares of PayPal in a research note on Thursday, September 19th. Seventeen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.41.

PayPal Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.