Mn Services Vermogensbeheer B.V. Lowers Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Mn Services Vermogensbeheer B.V. reduced its position in shares of Corpay, Inc. (NYSE:CPAY) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,300 shares of the company’s stock after selling 800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Corpay were worth $7,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CPAY. Epic Trust Investment Advisors LLC raised its stake in shares of 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 acquiring an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of 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 acquiring an additional 43 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake 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 acquiring an additional 54 shares in the last quarter. Capital Insight Partners LLC raised its stake 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 valued at $601,000 after acquiring an additional 55 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of Corpay in the first quarter valued at $25,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Performance

Shares of NYSE:CPAY opened at $297.96 on Monday. Corpay, Inc. has a one year low of $220.39 and a one year high of $319.94. The stock has a market capitalization of $20.94 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The company has a 50-day simple moving average of $279.88. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $3.85 EPS. As a group, research analysts forecast that Corpay, Inc. will post 17.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Evercore ISI cut 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. Bank of America cut their price target on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Raymond James cut their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have given 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, the company currently has an average rating of “Moderate Buy” and an average target price of $332.50.

About Corpay

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.