Assenagon Asset Management S.A. Trims Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Assenagon Asset Management S.A. decreased its stake in Corpay, Inc. (NYSE:CPAY) by 77.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,944 shares of the company’s stock after selling 103,890 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Corpay were worth $9,365,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPAY. Albion Financial Group UT purchased a new stake in Corpay in the third quarter worth about $27,000. Headlands Technologies LLC purchased a new stake in Corpay in the first quarter worth about $31,000. LGT Financial Advisors LLC purchased a new stake in Corpay in the second quarter worth about $33,000. Sunbelt Securities Inc. purchased a new stake in Corpay in the first quarter worth about $34,000. Finally, RFP Financial Group LLC purchased a new stake in shares of Corpay during the first quarter worth about $35,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CPAY. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company lifted their target price on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted 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. BMO Capital Markets lifted their target price on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Bank of America lifted their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $353.33.

Corpay Stock Performance

NYSE CPAY opened at $340.72 on Monday. The stock has a market capitalization of $23.66 billion, a PE ratio of 24.76, a P/E/G ratio of 1.39 and a beta of 1.22. The business has a 50 day simple moving average of $318.41 and a two-hundred day simple moving average of $293.66. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $355.47.

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