Massachusetts Financial Services Co. MA Sells 338,564 Shares of Corpay, Inc. (NYSE:CPAY)

Massachusetts Financial Services Co. MA decreased its holdings in Corpay, Inc. (NYSE:CPAY) by 64.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,254 shares of the company’s stock after selling 338,564 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Corpay were worth $48,821,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CPAY. Thompson Siegel & Walmsley LLC increased its holdings in shares of Corpay by 12.2% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 266,272 shares of the company’s stock worth $70,938,000 after acquiring an additional 28,959 shares during the last quarter. Wilkins Investment Counsel Inc. boosted its position in Corpay by 16.8% during the second quarter. Wilkins Investment Counsel Inc. now owns 22,425 shares of the company’s stock worth $5,974,000 after purchasing an additional 3,225 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Corpay by 9.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,533 shares of the company’s stock worth $941,000 after purchasing an additional 311 shares during the period. Federated Hermes Inc. raised its position in shares of Corpay by 3,514.3% in the second quarter. Federated Hermes Inc. now owns 253 shares of the company’s stock valued at $67,000 after purchasing an additional 246 shares during the period. Finally, GHP Investment Advisors Inc. raised its position in shares of Corpay by 23.3% in the second quarter. GHP Investment Advisors Inc. now owns 6,058 shares of the company’s stock valued at $1,614,000 after purchasing an additional 1,146 shares during the period. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 1.6 %

CPAY stock opened at $312.78 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.22 and a beta of 1.22. The firm has a 50-day moving average price of $295.65.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same period last year, the firm earned $3.85 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts predict that Corpay, Inc. will post 17.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CPAY shares. Evercore ISI dropped their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased 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. William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.