Verdence Capital Advisors LLC Decreases Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Verdence Capital Advisors LLC cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,711 shares of the credit services provider’s stock after selling 215 shares during the period. Verdence Capital Advisors LLC’s holdings in PayPal were worth $228,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PYPL. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of PayPal in the fourth quarter worth approximately $25,000. Sutton Wealth Advisors Inc. boosted its stake in shares of PayPal by 115.0% in the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after buying an additional 237 shares during the last quarter. BluePath Capital Management LLC purchased a new position in shares of PayPal in the 3rd quarter worth $33,000. Beacon Capital Management LLC grew its holdings in shares of PayPal by 58.6% in the fourth quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider’s stock worth $36,000 after acquiring an additional 225 shares during the period. Finally, Hanson & Doremus Investment Management increased its position in PayPal by 65.9% during the third quarter. Hanson & Doremus Investment Management now owns 680 shares of the credit services provider’s stock valued at $40,000 after acquiring an additional 270 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PYPL shares. Canaccord Genuity Group reduced their price target on shares of PayPal from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Citigroup decreased their price target on shares of PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. BMO Capital Markets cut their price objective on shares of PayPal from $65.00 to $60.00 and set a “market perform” rating for the company in a research report on Thursday, February 8th. Susquehanna raised their target price on PayPal from $61.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, William Blair reissued an “outperform” rating on shares of PayPal in a report on Thursday, February 8th. Twenty-three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Hold” and a consensus price target of $70.47.

PayPal Trading Up 2.0 %

PYPL stock opened at $64.43 on Wednesday. The firm has a fifty day moving average price of $62.53 and a 200 day moving average price of $60.04. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The firm has a market cap of $67.82 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.10 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 (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PayPal news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

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.