Stevens Capital Management LP Has $1.93 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Stevens Capital Management LP raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 58.8% in the third quarter, HoldingsChannel reports. The fund owned 24,689 shares of the credit services provider’s stock after purchasing an additional 9,143 shares during the quarter. Stevens Capital Management LP’s holdings in PayPal were worth $1,926,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PYPL. United Advisor Group LLC purchased a new position in PayPal in the third quarter worth $810,000. FCG Investment Co bought a new stake in shares of PayPal in the third quarter valued at $1,079,000. Equity Investment Corp raised its stake in shares of PayPal by 3.5% in the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares during the period. Weil Company Inc. raised its stake in shares of PayPal by 68.9% during the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after purchasing an additional 17,003 shares during the period. Finally, Brown Financial Advisors bought a new stake in shares of PayPal during the 2nd quarter valued at $1,454,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 4.9 %

Shares of NASDAQ:PYPL opened at $89.33 on Thursday. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $90.14. The stock has a market cap of $89.56 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 1.52 and a beta of 1.44. The business’s 50 day moving average is $82.25 and its 200 day moving average is $70.97. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

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 analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Phillip Securities restated an “accumulate” rating and issued a $90.00 target price (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their target price on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their price target on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average target price of $83.60.

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.