Corpay, Inc. (NYSE:CPAY) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its position in shares of Corpay, Inc. (NYSE:CPAY) by 3.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,295 shares of the company’s stock after selling 188 shares during the period. Kentucky Retirement Systems’ holdings in Corpay were worth $1,411,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

CPAY has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Bank of America reduced their target price on Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Wells Fargo & Company started coverage on Corpay in a research note on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price target on the stock. Three 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

Corpay Stock Down 1.8 %

Shares of NYSE:CPAY opened at $307.21 on Friday. 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 PE ratio of 22.86, a P/E/G ratio of 1.22 and a beta of 1.22. The company has a fifty day moving average of $296.06. 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 (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $973.84 million. During the same quarter in the prior year, the firm posted $3.85 earnings per share. Corpay’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Corpay, Inc. will post 17.81 earnings per share for the current year.

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.