Palouse Capital Management Inc. Has $1.52 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Palouse Capital Management Inc. trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 19,429 shares of the credit services provider’s stock after selling 530 shares during the period. Palouse Capital Management Inc.’s holdings in PayPal were worth $1,516,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. lifted its stake in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. Register Financial Advisors LLC bought a new position in shares of PayPal during the first quarter worth approximately $30,000. CarsonAllaria Wealth Management Ltd. increased its position in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after buying an additional 185 shares during the period. Family Firm Inc. bought a new position in PayPal during the second quarter worth about $29,000. Finally, SYSTM Wealth Solutions LLC raised its position in shares of PayPal by 50.6% in the second 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 in the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Stock Down 0.3 %

NASDAQ PYPL traded down $0.23 on Monday, reaching $80.71. The company had a trading volume of 5,164,753 shares, compared to its average volume of 13,632,538. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average is $74.16 and its 200 day moving average is $66.63. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $82.00. The stock has a market capitalization of $84.43 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.47 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.83 EPS. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on PYPL. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $68.00 to $72.00 in a report on Friday, August 9th. Susquehanna lifted their price objective on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein downgraded PayPal from an “outperform” rating to a “market perform” rating and raised their target price for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Argus raised PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Sixteen 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.03.

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.