Meeder Asset Management Inc. Acquires 1,326 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Meeder Asset Management Inc. grew its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 436.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,630 shares of the credit services provider’s stock after purchasing an additional 1,326 shares during the quarter. Meeder Asset Management Inc.’s holdings in PayPal were worth $127,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. United Advisor Group LLC purchased a new stake in PayPal during the 3rd quarter valued at about $810,000. FCG Investment Co purchased a new stake in PayPal during the 3rd quarter valued at about $1,079,000. Equity Investment Corp boosted its holdings 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 valued at $155,927,000 after acquiring an additional 67,497 shares during the period. Weil Company Inc. lifted 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 buying an additional 17,003 shares during the period. Finally, Brown Financial Advisors purchased a new stake in PayPal in the 2nd quarter worth approximately $1,454,000. 68.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PYPL. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Sunday, November 3rd. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and raised their target price for the company from $68.00 to $72.00 in a research note on Friday, August 9th. UBS Group raised their target price on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities restated an “accumulate” rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. 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 report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.45.

PayPal Stock Performance

PYPL stock opened at $84.74 on Thursday. The company has a market cap of $84.96 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 1.53 and a beta of 1.43. PayPal Holdings, Inc. has a 1 year low of $55.28 and a 1 year high of $87.92. 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 stock’s fifty day moving average price is $79.78 and its 200-day moving average price is $69.40.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. PayPal’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

About PayPal

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.