2,663 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Bought by Abacus Planning Group Inc.

Abacus Planning Group Inc. bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,663 shares of the credit services provider’s stock, valued at approximately $208,000.

A number of other hedge funds also recently bought and sold shares of PYPL. SYSTM Wealth Solutions LLC boosted its stake in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Pittenger & Anderson Inc. grew its stake in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the last quarter. Verity Asset Management Inc. increased its position in PayPal by 1.9% during the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after acquiring an additional 181 shares during the period. Indiana Trust & Investment Management CO raised its stake in PayPal by 18.6% during the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after purchasing an additional 184 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in PayPal by 3.1% in the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 184 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PYPL. Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price objective on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price objective on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research report on Wednesday, September 18th. Finally, Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Seventeen equities research 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 company’s stock. According to data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $76.41.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $77.31 on Friday. The stock has a market capitalization of $79.04 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $80.63. The business has a 50-day moving average price of $70.27 and a two-hundred day moving average price of $65.48.

PayPal (NASDAQ:PYPL) last announced 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. The firm had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.83 earnings per share. Equities analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.