Chase Investment Counsel Corp Has $358,000 Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Chase Investment Counsel Corp trimmed its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 59.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,595 shares of the credit services provider’s stock after selling 6,697 shares during the quarter. Chase Investment Counsel Corp’s holdings in PayPal were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. increased its stake in shares of PayPal by 125.3% in the third 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 during the last quarter. Family Firm Inc. purchased a new stake in shares of PayPal during the 2nd quarter worth about $29,000. SYSTM Wealth Solutions LLC lifted its holdings in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the last quarter. LRI Investments LLC bought a new stake in shares of PayPal in the 1st quarter valued at approximately $34,000. Finally, 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 worth $30,000 after buying an additional 465 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent research reports. Susquehanna boosted their target price on shares of PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Mizuho increased their target price on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. BMO Capital Markets increased their price objective on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, Macquarie boosted their target price on PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Fifteen equities research 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.45.

PayPal Price Performance

Shares of PYPL stock opened at $86.40 on Wednesday. The stock’s fifty day simple moving average is $77.95 and its 200 day simple moving average is $68.63. PayPal Holdings, Inc. has a one year low of $53.98 and a one year high of $87.92. The firm has a market cap of $86.62 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 1.55 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last posted 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 net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts expect that PayPal Holdings, Inc. will post 4.56 earnings per share 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.