Kentucky Retirement Systems Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Kentucky Retirement Systems lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.2% during the second quarter, HoldingsChannel.com reports. The firm owned 78,826 shares of the credit services provider’s stock after selling 2,565 shares during the period. Kentucky Retirement Systems’ holdings in PayPal were worth $4,574,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PYPL. Pittenger & Anderson Inc. lifted its position in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares in the last quarter. American National Bank purchased a new position in PayPal during the first quarter valued at $27,000. Family Firm Inc. acquired a new stake in shares of PayPal in the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC increased its stake in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new position in shares of PayPal during the 1st quarter worth about $30,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PYPL has been the topic of several research analyst reports. Mizuho reiterated an “outperform” rating and issued a $90.00 price objective on shares of PayPal in a report on Tuesday, August 20th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $78.00 price target on shares of PayPal in a research report on Wednesday. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price objective on shares of PayPal in a report on Wednesday, July 31st. Jefferies Financial Group dropped their target price on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Finally, Monness Crespi & Hardt raised their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Seventeen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.58.

PayPal Trading Up 6.1 %

Shares of NASDAQ PYPL opened at $77.57 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $81.14 billion, a PE ratio of 19.54, a PEG ratio of 1.00 and a beta of 1.43. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $78.25. The stock has a fifty day simple moving average of $66.68 and a 200-day simple moving average of $64.26.

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

About PayPal

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.