Axxcess Wealth Management LLC Boosts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Axxcess Wealth Management LLC raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,782 shares of the credit services provider’s stock after acquiring an additional 2,611 shares during the period. Axxcess Wealth Management LLC’s holdings in PayPal were worth $1,075,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its stake in PayPal by 3.8% in the 1st quarter. Russell Investments Group Ltd. now owns 483,524 shares of the credit services provider’s stock valued at $32,377,000 after buying an additional 17,919 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of PayPal by 13.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 27,149 shares of the credit services provider’s stock worth $1,819,000 after buying an additional 3,245 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of PayPal by 2.4% during the 1st quarter. Bleakley Financial Group LLC now owns 14,763 shares of the credit services provider’s stock worth $989,000 after buying an additional 344 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of PayPal during the 1st quarter worth approximately $1,506,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of PayPal by 8.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,270,960 shares of the credit services provider’s stock worth $85,142,000 after buying an additional 100,651 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $86.40 on Wednesday. The company’s fifty day moving average price is $77.67 and its 200 day moving average price is $68.49. PayPal Holdings, Inc. has a 12 month low of $53.98 and a 12 month high of $87.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $86.62 billion, a P/E ratio of 20.62, a P/E/G ratio of 1.48 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period last year, the business earned $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PYPL shares. William Blair upgraded shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Morgan Stanley lifted their target price on shares of PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Susquehanna lifted their target price on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.45.

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.