Crossmark Global Holdings Inc. Reduces Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Crossmark Global Holdings Inc. reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 373,529 shares of the credit services provider’s stock after selling 5,150 shares during the period. Crossmark Global Holdings Inc.’s holdings in PayPal were worth $29,147,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Financial Management Professionals Inc. raised its stake in shares of PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares in the last quarter. Family Firm Inc. acquired a new stake in PayPal during the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC lifted its holdings in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the last quarter. LRI Investments LLC acquired a new position in shares of PayPal in the 1st quarter worth approximately $34,000. Finally, Tortoise Investment Management LLC increased its holdings in shares of PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 465 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Up 2.0 %

PayPal stock traded up $1.66 during midday trading on Friday, reaching $83.01. The stock had a trading volume of 8,144,180 shares, compared to its average volume of 13,546,967. The firm’s fifty day simple moving average is $77.37 and its two-hundred day simple moving average is $68.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal Holdings, Inc. has a twelve month low of $53.87 and a twelve month high of $83.70. The firm has a market cap of $83.22 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.45 and a beta of 1.43.

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 firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the prior year, the business earned $0.97 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price objective on shares of PayPal in a research report on Wednesday, September 18th. TD Cowen raised their target price on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Monness Crespi & Hardt increased their price target on PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Macquarie boosted their price objective on PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Fifteen 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 stock. Based on data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus price target of $83.45.

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.