Federated Hermes Inc. Has $53.28 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Federated Hermes Inc. raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 46.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 867,561 shares of the credit services provider’s stock after purchasing an additional 274,443 shares during the quarter. Federated Hermes Inc. owned approximately 0.08% of PayPal worth $53,277,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in shares of PayPal in the 4th quarter valued at about $9,267,000. Bartlett & Co. LLC increased its stake in PayPal by 8.5% in the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after purchasing an additional 740 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of PayPal by 9.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock worth $53,344,000 after purchasing an additional 73,687 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of PayPal by 4.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock valued at $1,183,000 after buying an additional 942 shares during the period. Finally, Bellecapital International Ltd. increased its position in PayPal by 2.0% in the 4th quarter. Bellecapital International Ltd. now owns 21,685 shares of the credit services provider’s stock valued at $1,332,000 after buying an additional 433 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $66.00 target price (down from $118.00) on shares of PayPal in a report on Tuesday, January 9th. Daiwa Capital Markets lowered shares of PayPal from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $64.00 to $62.00 in a research note on Tuesday, February 13th. UBS Group lifted their price objective on shares of PayPal from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $74.00 price target on shares of PayPal in a research report on Thursday, March 21st. Finally, Evercore ISI raised their target price on PayPal from $56.00 to $60.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.47.

PayPal Stock Up 0.3 %

Shares of NASDAQ:PYPL opened at $62.31 on Friday. The firm has a market capitalization of $65.59 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54. The firm has a fifty day moving average of $62.34 and a 200 day moving average of $59.93.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The firm had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 3.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

PayPal Company 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.