King Luther Capital Management Corp Has $49.37 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

King Luther Capital Management Corp boosted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.3% in the third quarter, Holdings Channel reports. The institutional investor owned 632,760 shares of the credit services provider’s stock after buying an additional 8,381 shares during the period. King Luther Capital Management Corp’s holdings in PayPal were worth $49,374,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Bruce G. Allen Investments LLC lifted its position 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 worth $141,000 after buying an additional 124 shares during the last quarter. First United Bank & Trust lifted its position in 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 lifted its position in PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 152 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its position in 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 purchasing an additional 167 shares during the last quarter. Finally, First Bank & Trust lifted its position in PayPal by 4.4% in the third quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock valued at $313,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. TD Cowen boosted their price objective on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their price target on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.45.

PayPal Stock Up 0.8 %

Shares of NASDAQ PYPL opened at $84.74 on Thursday. The firm has a market cap of $84.96 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a 1 year low of $55.28 and a 1 year high of $87.92. The stock’s 50-day simple moving average is $79.78 and its 200-day simple moving average is $69.40.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during 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%. PayPal’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.56 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.