Glenmede Trust Co. NA Increases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Glenmede Trust Co. NA increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 822,324 shares of the credit services provider’s stock after purchasing an additional 13,342 shares during the period. Glenmede Trust Co. NA owned 0.08% of PayPal worth $64,166,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in shares of PayPal during the 2nd quarter worth about $29,000. SYSTM Wealth Solutions LLC boosted its holdings 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 in the last quarter. Tortoise Investment Management LLC raised its holdings in PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares in the last quarter. Planning Capital Management Corp boosted its holdings in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of PayPal in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. TD Cowen boosted their target price on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Stock Performance

NASDAQ:PYPL opened at $86.94 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $87.16 billion, a PE ratio of 20.75, a P/E/G ratio of 1.56 and a beta of 1.43. The firm has a 50 day simple moving average of $81.04 and a 200-day simple moving average of $70.06. PayPal Holdings, Inc. has a 1-year low of $55.71 and a 1-year high of $88.74.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the previous year, the company earned $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current 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.