IMS Capital Management Has $272,000 Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

IMS Capital Management reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,487 shares of the credit services provider’s stock after selling 335 shares during the period. IMS Capital Management’s holdings in PayPal were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. World Investment Advisors LLC acquired a new position in PayPal in the third quarter worth approximately $387,435,000. United Advisor Group LLC bought a new stake in PayPal in the third quarter worth approximately $810,000. FCG Investment Co acquired a new position in shares of PayPal during the 3rd quarter worth $1,079,000. Equity Investment Corp raised its holdings in shares of PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after purchasing an additional 67,497 shares in the last quarter. Finally, Weil Company Inc. lifted its stake in shares of PayPal by 68.9% in 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 last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Down 0.5 %

NASDAQ PYPL opened at $90.86 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average is $84.29 and its two-hundred day moving average is $72.78. The company has a market capitalization of $91.09 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.66 and a beta of 1.44. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data 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 company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. Equities analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays increased their target price on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday. Oppenheimer initiated coverage on PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. BMO Capital Markets boosted their target price on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Robert W. Baird increased their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.97.

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.