ICICI Prudential Asset Management Co Ltd Increases Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

ICICI Prudential Asset Management Co Ltd grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 16.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 13,346 shares of the credit services provider’s stock after acquiring an additional 1,855 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in PayPal were worth $1,041,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Oppenheimer & Co. Inc. lifted its position in shares of PayPal by 23.0% in the third quarter. Oppenheimer & Co. Inc. now owns 70,449 shares of the credit services provider’s stock valued at $5,497,000 after acquiring an additional 13,166 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of PayPal by 2.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 108,091 shares of the credit services provider’s stock valued at $8,434,000 after acquiring an additional 2,648 shares in the last quarter. GHE LLC lifted its position in shares of PayPal by 10.1% in the third quarter. GHE LLC now owns 26,956 shares of the credit services provider’s stock worth $2,103,000 after buying an additional 2,466 shares in the last quarter. Saturna Capital Corp purchased a new stake in shares of PayPal in the third quarter worth about $226,000. Finally, Simmons Bank lifted its position in shares of PayPal by 8.2% in the third quarter. Simmons Bank now owns 26,577 shares of the credit services provider’s stock worth $2,074,000 after buying an additional 2,008 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Up 0.5 %

NASDAQ:PYPL traded up $0.43 during midday trading on Wednesday, hitting $86.83. The stock had a trading volume of 2,250,342 shares, compared to its average volume of 13,487,888. PayPal Holdings, Inc. has a one year low of $55.28 and a one year high of $87.92. The company has a market capitalization of $87.05 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.55 and a beta of 1.43. The stock has a 50-day moving average of $77.95 and a 200 day moving average of $68.63. 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 announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) 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 company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. PayPal’s revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of research analyst reports. Mizuho boosted their target price on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Canaccord Genuity Group boosted their target price on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. TD Cowen boosted their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research report on Wednesday, September 18th. Finally, BMO Capital Markets upped their price objective on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.45.

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.