Summerhill Capital Management lnc. Buys 23,530 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Summerhill Capital Management lnc. grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 25.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,231 shares of the credit services provider’s stock after purchasing an additional 23,530 shares during the quarter. PayPal accounts for 7.4% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 5th biggest position. Summerhill Capital Management lnc.’s holdings in PayPal were worth $9,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Relyea Zuckerberg Hanson LLC increased its holdings in PayPal by 113.8% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after buying an additional 3,976 shares during the last quarter. World Investment Advisors LLC bought a new stake in PayPal in the third quarter valued at about $387,435,000. United Advisor Group LLC bought a new stake in PayPal in the third quarter valued at about $810,000. FCG Investment Co bought a new stake in PayPal in the third quarter valued at about $1,079,000. Finally, Equity Investment Corp increased its holdings in PayPal by 3.5% in the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $77.63 on Friday. The company’s fifty day moving average is $85.73 and its two-hundred day moving average is $80.55. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66. The company has a market cap of $76.79 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company earned $1.48 earnings per share. PayPal’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PYPL shares. UBS Group boosted their price objective on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets upped their target price on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 target price (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price for the company in a report on Friday, December 13th. Finally, Keefe, Bruyette & Woods upped their target price on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Thirteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.52.

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.