Synovus Financial Corp Increases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Synovus Financial Corp lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 33.7% in the third quarter, HoldingsChannel.com reports. The fund owned 64,693 shares of the credit services provider’s stock after acquiring an additional 16,306 shares during the period. Synovus Financial Corp’s holdings in PayPal were worth $5,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PYPL. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PayPal during the 3rd quarter valued at $26,000. Planning Capital Management Corp increased its holdings in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after buying an additional 268 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after buying an additional 243 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in PayPal in the third quarter valued at about $36,000. Finally, Family Firm Inc. bought a new position in shares of PayPal during the 2nd quarter valued at approximately $29,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Up 1.8 %

Shares of NASDAQ:PYPL opened at $91.02 on Friday. The firm has a market capitalization of $91.25 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. 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 52-week low of $55.77 and a 52-week high of $93.66. The firm has a fifty day moving average of $83.87 and a 200 day moving average of $72.23.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) 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 analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PYPL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Macquarie boosted their target price on PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group increased their price target on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their price objective on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Barclays lifted their target price on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average price target of $86.74.

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.