IMS Capital Management Has $272,000 Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

IMS Capital Management lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,487 shares of the credit services provider’s stock after selling 335 shares during the quarter. IMS Capital Management’s holdings in PayPal were worth $272,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Summit Global Investments grew its stake in shares of PayPal by 60.4% during the second quarter. Summit Global Investments now owns 10,681 shares of the credit services provider’s stock valued at $620,000 after purchasing an additional 4,023 shares during the last quarter. Fifth Third Bancorp boosted its position in PayPal by 9.7% in the 2nd quarter. Fifth Third Bancorp now owns 38,815 shares of the credit services provider’s stock valued at $2,252,000 after buying an additional 3,418 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in PayPal in the 2nd quarter valued at $636,000. Lecap Asset Management Ltd. acquired a new stake in shares of PayPal in the 2nd quarter valued at $335,000. Finally, Griffin Asset Management Inc. raised its position in shares of PayPal by 4.2% during the second quarter. Griffin Asset Management Inc. now owns 4,931 shares of the credit services provider’s stock worth $286,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Down 0.5 %

PYPL stock opened at $90.86 on Wednesday. The business has a 50-day moving average of $84.29 and a 200-day moving average of $72.78. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $93.66. The stock has a market capitalization of $91.09 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.66 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 EPS. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PYPL. BMO Capital Markets raised their price target on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Mizuho raised their target price on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Susquehanna boosted their price target on shares of PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley lifted their target price on shares of PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.97.

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.