Accent Capital Management LLC Takes Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Accent Capital Management LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,449 shares of the credit services provider's stock, valued at approximately $503,000.

Several other hedge funds also recently bought and sold shares of the company. Bruce G. Allen Investments LLC raised its holdings in PayPal by 7.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider's stock worth $141,000 after buying an additional 124 shares during the period. First United Bank & Trust raised its holdings in shares of PayPal by 6.4% during the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider's stock worth $187,000 after acquiring an additional 145 shares during the period. Ritholtz Wealth Management lifted its position in PayPal by 3.3% in the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider's stock valued at $369,000 after acquiring an additional 152 shares in the last quarter. SYSTM Wealth Solutions LLC boosted its stake in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock worth $29,000 after purchasing an additional 167 shares during the period. Finally, First Bank & Trust increased its holdings in PayPal by 4.4% during the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider's stock worth $313,000 after purchasing an additional 171 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PYPL. Robert W. Baird upped their price target on PayPal from $80.00 to $91.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Daiwa America upgraded shares of PayPal from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, August 9th. Canaccord Genuity Group raised their price objective on PayPal from $80.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Susquehanna upped their target price on PayPal from $83.00 to $94.00 and gave the stock a "positive" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on PayPal from $79.00 to $87.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.45.

PayPal Price Performance

Shares of PayPal stock traded up $0.04 on Friday, reaching $85.83. 8,083,167 shares of the stock were exchanged, compared to its average volume of 11,479,406. The firm's 50 day moving average is $78.86 and its 200-day moving average is $69.02. The firm has a market cap of $86.05 billion, a PE ratio of 20.48, a P/E/G ratio of 1.53 and a beta of 1.43. 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 one year low of $55.28 and a one year high of $87.92.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share 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 during the quarter, compared to analysts' expectations of $7.88 billion. During the same period in the prior year, the company earned $0.97 earnings per share. The company's quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

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.