Clark Capital Management Group Inc. Purchases 102,512 Shares of PayPal Holdings, Inc. $PYPL

Clark Capital Management Group Inc. grew its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 880,002 shares of the credit services provider’s stock after acquiring an additional 102,512 shares during the quarter. Clark Capital Management Group Inc. owned about 0.10% of PayPal worth $51,374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Norges Bank bought a new stake in shares of PayPal during the fourth quarter valued at approximately $949,758,000. Vanguard Group Inc. increased its holdings in shares of PayPal by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock valued at $5,276,205,000 after acquiring an additional 5,534,462 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of PayPal by 35.9% during the third quarter. Dimensional Fund Advisors LP now owns 8,177,536 shares of the credit services provider’s stock valued at $548,520,000 after acquiring an additional 2,160,227 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of PayPal by 22.3% during the fourth quarter. Primecap Management Co. CA now owns 8,168,490 shares of the credit services provider’s stock valued at $476,876,000 after acquiring an additional 1,487,560 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of PayPal during the third quarter valued at approximately $97,794,000. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PYPL. Wolfe Research restated a “sell” rating on shares of PayPal in a report on Monday, February 23rd. Bank of America decreased their price objective on PayPal from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. KGI Securities restated a “hold” rating and set a $55.00 price objective on shares of PayPal in a report on Monday, March 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $59.00 price target on shares of PayPal in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group lowered their price target on PayPal from $41.00 to $40.00 in a research report on Wednesday, May 6th. Eight research analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.85.

View Our Latest Report on PayPal

PayPal Trading Up 2.7%

NASDAQ PYPL opened at $43.65 on Wednesday. The firm has a market capitalization of $38.50 billion, a P/E ratio of 8.19, a PEG ratio of 1.06 and a beta of 1.34. The business has a fifty day simple moving average of $45.76 and a 200 day simple moving average of $49.59. PayPal Holdings, Inc. has a 12 month low of $38.46 and a 12 month high of $79.50. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPLGet Free Report) last released its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $8.35 billion during the quarter, compared to analyst estimates of $8.05 billion. PayPal had a return on equity of 25.02% and a net margin of 15.00%.PayPal’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 EPS. On average, analysts predict that PayPal Holdings, Inc. will post 5.3 EPS for the current fiscal year.

PayPal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, June 4th. PayPal’s dividend payout ratio is 10.51%.

PayPal News Summary

Here are the key news stories impacting PayPal this week:

Insider Buying and Selling at PayPal

In other PayPal news, CAO Chris Natali sold 1,337 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $49.46, for a total value of $66,128.02. Following the completion of the transaction, the chief accounting officer owned 1,586 shares in the company, valued at $78,443.56. This represents a 45.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $42.79, for a total value of $144,587.41. Following the completion of the transaction, the insider owned 30,983 shares of the company’s stock, valued at $1,325,762.57. This trade represents a 9.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,612 shares of company stock worth $966,623 in the last quarter. 0.63% of the stock is currently owned by company insiders.

About PayPal

(Free Report)

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.

Further Reading

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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