NorthCrest Asset Manangement LLC Buys 3,983 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

NorthCrest Asset Manangement LLC grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,047 shares of the credit services provider’s stock after purchasing an additional 3,983 shares during the period. NorthCrest Asset Manangement LLC’s holdings in PayPal were worth $8,899,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC raised its position in shares of PayPal by 7.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after acquiring an additional 124 shares in the last quarter. First United Bank & Trust boosted its holdings in shares of PayPal by 6.4% during the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after buying an additional 145 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of PayPal by 3.3% in the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after acquiring an additional 152 shares in the last quarter. SYSTM Wealth Solutions LLC boosted its position in shares of 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 in the last quarter. Finally, Pittenger & Anderson Inc. grew its stake in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL traded up $0.31 during trading hours on Friday, hitting $81.70. 7,201,013 shares of the stock traded hands, compared to its average volume of 13,524,066. The company has a market cap of $85.46 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $82.80. The stock has a 50 day moving average price of $75.38 and a 200 day moving average price of $67.05. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the prior year, the business posted $0.83 EPS. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Sanford C. Bernstein downgraded PayPal from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $75.00 to $80.00 in a report on Thursday, October 10th. 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 report on Thursday, October 17th. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a research note on Saturday. Macquarie increased their price target on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a report on Wednesday, September 18th. Seventeen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.03.

PayPal 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.