3,847 Shares in Paypal Holdings Inc (PYPL) Purchased by Investment Centers of America Inc.
Investment Centers of America Inc. acquired a new position in shares of Paypal Holdings Inc (NASDAQ:PYPL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,847 shares of the credit services provider’s stock, valued at approximately $246,000.
Several other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers raised its stake in Paypal by 0.9% in the 2nd quarter. Rhumbline Advisers now owns 1,850,531 shares of the credit services provider’s stock valued at $99,318,000 after acquiring an additional 17,139 shares during the period. Fundsmith LLP raised its stake in Paypal by 6.8% in the 2nd quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock valued at $754,131,000 after acquiring an additional 889,976 shares during the period. Shikiar Asset Management Inc. raised its stake in Paypal by 2,671.9% in the 2nd quarter. Shikiar Asset Management Inc. now owns 141,365 shares of the credit services provider’s stock valued at $7,587,000 after acquiring an additional 136,265 shares during the period. Smith Asset Management Group LP bought a new stake in Paypal in the 2nd quarter valued at $50,648,000. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Paypal by 0.7% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 188,272 shares of the credit services provider’s stock valued at $12,055,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 81.25% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Bank of America restated a “buy” rating and issued a $88.00 price target (up previously from $80.00) on shares of Paypal in a research note on Friday. Stifel Nicolaus increased their price target on Paypal from $61.00 to $70.00 and gave the company a “hold” rating in a research note on Sunday, October 22nd. Zacks Investment Research upgraded Paypal from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Thursday, October 26th. Vetr upgraded Paypal from a “hold” rating to a “buy” rating and set a $80.21 price objective on the stock in a research report on Wednesday. Finally, BTIG Research reiterated a “buy” rating and set a $70.00 price objective (up previously from $63.00) on shares of Paypal in a research report on Wednesday, September 6th. Ten analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $73.12.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. Paypal had a return on equity of 11.33% and a net margin of 12.69%. Paypal’s revenue was up 21.4% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. equities research analysts predict that Paypal Holdings Inc will post 1.37 EPS for the current fiscal year.
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PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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