BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 56.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,555 shares of the credit services provider’s stock after purchasing an additional 68,883 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PayPal were worth $11,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Distillate Capital Partners LLC increased its stake in PayPal by 156,934.7% during the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after purchasing an additional 343,687 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of PayPal by 1.6% during the second quarter. Evergreen Capital Management LLC now owns 148,388 shares of the credit services provider’s stock valued at $8,611,000 after acquiring an additional 2,399 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in PayPal by 49.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 46,228 shares of the credit services provider’s stock worth $2,683,000 after acquiring an additional 15,316 shares during the last quarter. Delap Wealth Advisory LLC lifted its position in PayPal by 18.5% in the 2nd quarter. Delap Wealth Advisory LLC now owns 7,660 shares of the credit services provider’s stock valued at $445,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of PayPal by 10.1% in the 2nd quarter. Gabelli Funds LLC now owns 36,310 shares of the credit services provider’s stock worth $2,107,000 after purchasing an additional 3,320 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

PYPL opened at $77.36 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $79.09 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.11 and a beta of 1.43. The company has a fifty day moving average of $67.68 and a 200 day moving average of $64.73. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $79.26.

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

Analysts Set New Price Targets

PYPL has been the topic of several recent analyst reports. Barclays increased their price objective on PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price target on shares of PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group increased their price objective 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday. Finally, BMO Capital Markets increased their price target on PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Seventeen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.16.

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.