Verdence Capital Advisors LLC Cuts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Verdence Capital Advisors LLC cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,330 shares of the credit services provider’s stock after selling 155 shares during the quarter. Verdence Capital Advisors LLC’s holdings in PayPal were worth $260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PYPL. Family Firm Inc. purchased a new position in shares of PayPal in the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC grew its position in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the period. Tortoise Investment Management LLC increased its holdings in PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after buying an additional 465 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of PayPal during the 1st quarter valued at approximately $34,000. Finally, Financial Management Professionals Inc. boosted its stake in shares of PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Ratings Changes

PYPL has been the subject of several research reports. Royal Bank of Canada lifted their price objective on PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Oppenheimer started coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, TD Cowen raised their price target on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Fifteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.45.

PayPal Stock Down 0.6 %

Shares of NASDAQ PYPL opened at $86.40 on Wednesday. The stock has a fifty day moving average price of $77.67 and a 200 day moving average price of $68.49. The company has a market cap of $86.62 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.48 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $53.98 and a 12-month high of $87.92. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 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 for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the business posted $0.97 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal 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.