Zions Bancorporation N.A. Boosts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Zions Bancorporation N.A. grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 46,117 shares of the credit services provider’s stock after purchasing an additional 4,614 shares during the period. Zions Bancorporation N.A.’s holdings in PayPal were worth $3,599,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. increased its holdings in PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after buying an additional 243 shares in the last quarter. Family Firm Inc. purchased a new position in shares of PayPal during the 2nd quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC increased its holdings in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of PayPal in the first quarter valued at about $34,000. Finally, Tortoise Investment Management LLC lifted its stake in 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 buying an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PYPL. The Goldman Sachs Group lifted their target price on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price objective (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. UBS Group raised their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt upped their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Oppenheimer began coverage on PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Trading Up 1.1 %

Shares of PayPal stock opened at $87.31 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $78.25 and a 200-day simple moving average of $68.76. The stock has a market cap of $87.53 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.54 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $55.28 and a 12-month high of $87.92.

PayPal (NASDAQ:PYPL) last issued 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. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 earnings per share. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

PayPal Profile

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.