Procyon Advisors LLC Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Procyon Advisors LLC raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,719 shares of the credit services provider’s stock after purchasing an additional 2,979 shares during the period. Procyon Advisors LLC’s holdings in PayPal were worth $3,561,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. World Investment Advisors LLC acquired a new position in PayPal during the third quarter valued at approximately $387,435,000. United Advisor Group LLC purchased a new stake in shares of PayPal during the 3rd quarter valued at about $810,000. FCG Investment Co acquired a new position in PayPal during the 3rd quarter worth approximately $1,079,000. Equity Investment Corp lifted its position in PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after acquiring an additional 67,497 shares in the last quarter. Finally, Weil Company Inc. boosted its holdings in PayPal by 68.9% in the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock worth $3,253,000 after acquiring an additional 17,003 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

PayPal stock opened at $88.92 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $89.15 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $93.66. The firm’s 50 day simple moving average is $87.08 and its 200-day simple moving average is $76.40.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. As a group, equities research analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Monness Crespi & Hardt lifted their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 price objective (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Barclays upped their price objective on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Finally, Canaccord Genuity Group raised their price objective on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average price target of $89.32.

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.