Corpay, Inc. (NYSE:CPAY) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,775 shares of the company’s stock after selling 436 shares during the period. Envestnet Asset Management Inc.’s holdings in Corpay were worth $25,782,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in shares of Corpay in the first quarter worth $31,000. Sunbelt Securities Inc. acquired a new position in Corpay in the 1st quarter valued at about $34,000. RFP Financial Group LLC acquired a new position in Corpay in the 1st quarter valued at about $35,000. LGT Financial Advisors LLC purchased a new position in Corpay in the 2nd quarter valued at about $33,000. Finally, Innealta Capital LLC acquired a new stake in shares of Corpay during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Trading Down 1.8 %

Shares of CPAY stock opened at $307.21 on Friday. The company has a fifty day simple moving average of $296.06. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94. The stock has a market cap of $21.59 billion, a P/E ratio of 22.86, a PEG ratio of 1.22 and a beta of 1.22.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The company had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter in the previous year, the firm posted $3.85 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Equities research analysts expect that Corpay, Inc. will post 17.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CPAY shares. JPMorgan Chase & Co. boosted their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Raymond James lowered their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Evercore ISI decreased their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $334.58.

Corpay Company Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.