Capital Investment Services of America Inc. lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 223,306 shares of the credit services provider’s stock after selling 2,650 shares during the period. PayPal Holdings accounts for about 2.1% of Capital Investment Services of America Inc.’s investment portfolio, making the stock its 20th largest position. Capital Investment Services of America Inc.’s holdings in PayPal Holdings were worth $11,985,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PYPL. Norway Savings Bank boosted its position in PayPal Holdings by 0.5% in the first quarter. Norway Savings Bank now owns 5,300 shares of the credit services provider’s stock worth $228,000 after buying an additional 25 shares during the period. Fox Run Management L.L.C. boosted its position in PayPal Holdings by 10.0% in the first quarter. Fox Run Management L.L.C. now owns 8,800 shares of the credit services provider’s stock worth $379,000 after buying an additional 800 shares during the period. BLB&B Advisors LLC boosted its position in PayPal Holdings by 4.1% in the first quarter. BLB&B Advisors LLC now owns 6,032 shares of the credit services provider’s stock worth $259,000 after buying an additional 238 shares during the period. Atria Investments LLC boosted its position in PayPal Holdings by 12.6% in the first quarter. Atria Investments LLC now owns 28,381 shares of the credit services provider’s stock worth $1,221,000 after buying an additional 3,171 shares during the period. Finally, Salem Capital Management Inc. boosted its position in PayPal Holdings by 28.3% in the first quarter. Salem Capital Management Inc. now owns 26,875 shares of the credit services provider’s stock worth $1,156,000 after buying an additional 5,925 shares during the period. 81.31% of the stock is owned by hedge funds and other institutional investors.

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.22% during mid-day trading on Friday, reaching $58.15. The company had a trading volume of 3,481,488 shares. The stock has a 50 day moving average price of $56.89 and a 200 day moving average price of $48.35. The firm has a market capitalization of $69.92 billion, a PE ratio of 46.90 and a beta of 0.99. PayPal Holdings, Inc. has a 12-month low of $36.30 and a 12-month high of $61.30.

PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. PayPal Holdings’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS. On average, equities analysts forecast that PayPal Holdings, Inc. will post $1.84 earnings per share for the current year.

PayPal Holdings declared that its Board of Directors has approved a share buyback program on Wednesday, April 26th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to purchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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A number of research firms have commented on PYPL. Citigroup Inc. reaffirmed a “buy” rating and set a $67.00 price objective (up from $62.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Barclays PLC lifted their price objective on shares of PayPal Holdings from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $61.00 price objective (up from $51.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Robert W. Baird reaffirmed an “outperform” rating and set a $65.00 price objective (up from $59.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Finally, Raymond James Financial, Inc. lifted their price objective on shares of PayPal Holdings from $52.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. PayPal Holdings currently has an average rating of “Buy” and an average target price of $59.49.

In other PayPal Holdings news, EVP Gary J. Marino sold 1,350 shares of PayPal Holdings stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $52.48, for a total value of $70,848.00. Following the transaction, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at approximately $1,967,527.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO William J. Ready sold 90,000 shares of PayPal Holdings stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.25, for a total value of $5,332,500.00. Following the completion of the transaction, the chief operating officer now directly owns 29,252 shares in the company, valued at $1,733,181. The disclosure for this sale can be found here. Insiders sold a total of 95,852 shares of company stock worth $5,653,198 over the last ninety days. Insiders own 6.00% of the company’s stock.

About PayPal Holdings

PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.

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Institutional Ownership by Quarter for PayPal Holdings (NASDAQ:PYPL)

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