Copley Financial Group Inc. Makes New Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Copley Financial Group Inc. purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,197 shares of the credit services provider’s stock, valued at approximately $249,000.

A number of other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC raised its holdings in 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 valued at $141,000 after acquiring an additional 124 shares during the last quarter. First United Bank & Trust increased its holdings in shares of PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after purchasing an additional 145 shares during the last quarter. Ritholtz Wealth Management grew its holdings 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 buying an additional 152 shares in the last quarter. Laraway Financial Advisors Inc increased its stake in shares of PayPal by 3.8% in the 3rd quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock worth $330,000 after acquiring an additional 154 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC increased its stake 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 acquiring an additional 167 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PYPL has been the topic of a number of analyst reports. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $103.00 in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a report on Thursday. Wells Fargo & Company lifted their target price on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Robert W. Baird increased their price target on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Sixteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $86.74.

PayPal Stock Up 1.5 %

Shares of NASDAQ:PYPL traded up $1.32 during trading on Friday, hitting $90.72. 1,374,410 shares of the company were exchanged, compared to its average volume of 13,023,601. The firm’s 50 day moving average price is $83.64 and its 200-day moving average price is $72.03. PayPal Holdings, Inc. has a 12-month low of $55.77 and a 12-month high of $93.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $90.95 billion, a P/E ratio of 21.34, a PEG ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. On average, research analysts predict that PayPal Holdings, Inc. will post 4.57 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.