Victory Capital Management Inc. Has $63.57 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Victory Capital Management Inc. lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 814,731 shares of the credit services provider’s stock after selling 29,975 shares during the quarter. Victory Capital Management Inc.’s holdings in PayPal were worth $63,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Family Firm Inc. acquired a new position in PayPal in the 2nd quarter valued at $29,000. SYSTM Wealth Solutions LLC grew its position in shares of PayPal by 50.6% in the second 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 last quarter. Tortoise Investment Management LLC increased its stake in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares during the period. LRI Investments LLC acquired a new position in shares of PayPal during the 1st quarter worth about $34,000. Finally, Financial Management Professionals Inc. boosted its stake in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares during the period. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PYPL. Wells Fargo & Company upped their price target on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Macquarie raised their price target on shares of PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays upped their price objective on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada lifted their target price on PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.45.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $85.79 on Friday. The business has a fifty day moving average of $78.25 and a 200-day moving average of $68.76. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a twelve month low of $55.28 and a twelve month high of $87.92. The firm has a market cap of $86.01 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the company posted $0.97 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal 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.