Corpay, Inc. (NYSE:CPAY) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Corpay, Inc. (NYSE:CPAY) by 9.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,994 shares of the company’s stock after selling 615 shares during the period. Truist Financial Corp’s holdings in Corpay were worth $1,597,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CPAY. Epic Trust Investment Advisors LLC increased its stake in Corpay by 4.1% in the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after purchasing an additional 39 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Corpay by 21.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after purchasing an additional 43 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Corpay by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock valued at $352,000 after purchasing an additional 54 shares during the last quarter. Capital Insight Partners LLC raised its holdings in shares of Corpay by 2.5% in the second quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock worth $601,000 after acquiring an additional 55 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Corpay by 0.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock worth $2,066,000 after purchasing an additional 71 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research report on Thursday, August 8th. Jefferies Financial Group increased their price target on Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised their target price on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Evercore ISI dropped their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Raymond James cut their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and an average price target of $340.83.

Corpay Price Performance

Shares of CPAY opened at $339.32 on Friday. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $342.95. The company has a market cap of $23.56 billion, a P/E ratio of 24.66, a PEG ratio of 1.33 and a beta of 1.22. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a fifty day moving average price of $305.35 and a 200 day moving average price of $291.10.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same period in the previous year, the firm posted $3.85 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that Corpay, Inc. will post 17.83 earnings per share for the current year.

Corpay 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.