Capital Investment Services of America Inc. Cuts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Capital Investment Services of America Inc. lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.5% in the 3rd quarter, Holdings Channel reports. The firm owned 194,581 shares of the credit services provider’s stock after selling 15,831 shares during the period. Capital Investment Services of America Inc.’s holdings in PayPal were worth $15,183,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Quintet Private Bank Europe S.A. lifted its stake in PayPal by 15.6% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 660,801 shares of the credit services provider’s stock valued at $51,562,000 after acquiring an additional 89,237 shares during the period. PDS Planning Inc purchased a new position in shares of PayPal during the third quarter valued at approximately $235,000. Palisades Hudson Asset Management L.P. bought a new position in PayPal during the third quarter valued at approximately $261,000. QRG Capital Management Inc. boosted its holdings in PayPal by 0.7% in the third quarter. QRG Capital Management Inc. now owns 144,663 shares of the credit services provider’s stock worth $11,288,000 after purchasing an additional 935 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in PayPal by 0.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 384,363 shares of the credit services provider’s stock worth $29,992,000 after purchasing an additional 3,360 shares during the period. 68.32% of the stock is owned by institutional investors.

PayPal Price Performance

NASDAQ PYPL traded up $0.20 on Monday, reaching $77.45. The company had a trading volume of 3,707,551 shares, compared to its average volume of 13,610,110. The stock has a market capitalization of $77.65 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.41 and a beta of 1.43. PayPal Holdings, Inc. has a 12 month low of $53.55 and a 12 month high of $83.70. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average price is $76.50 and its 200 day moving average price is $67.72.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on PYPL shares. Canaccord Genuity Group increased their price target on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Macquarie boosted their price target on PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their price objective on shares of PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $78.00 target price on shares of PayPal in a research report on Wednesday, September 18th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $83.45.

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.