Hardman Johnston Global Advisors LLC Has $21.14 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Hardman Johnston Global Advisors LLC reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 270,919 shares of the credit services provider’s stock after selling 2,080 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in PayPal were worth $21,140,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Crestwood Advisors Group LLC lifted its holdings in PayPal by 5.6% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,685 shares of the credit services provider’s stock valued at $288,000 after purchasing an additional 196 shares during the last quarter. Clarity Financial LLC bought a new position in PayPal in the third quarter valued at about $209,000. United Advisor Group LLC bought a new position in PayPal in the third quarter valued at approximately $810,000. Greenwood Capital Associates LLC acquired a new position in shares of PayPal during the 3rd quarter worth about $216,000. Finally, Catalyst Capital Advisors LLC grew its position in shares of PayPal by 154.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,569 shares of the credit services provider’s stock valued at $200,000 after purchasing an additional 1,558 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PYPL shares. Canaccord Genuity Group increased their target price on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Susquehanna upped 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. BMO Capital Markets lifted their price objective on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price target on shares of PayPal in a research report on Wednesday, September 18th. Finally, TD Cowen upped their price target on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Fifteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Price Performance

PYPL stock opened at $79.25 on Wednesday. The company has a fifty day simple moving average of $76.78 and a two-hundred day simple moving average of $67.95. PayPal Holdings, Inc. has a 52 week low of $53.55 and a 52 week high of $83.70. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $79.45 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.38 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 earnings per share. Analysts anticipate that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

PayPal Company 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.