Raymond James & Associates Decreases Holdings in Corpay, Inc. (NYSE:CPAY)

Raymond James & Associates reduced its stake in Corpay, Inc. (NYSE:CPAY) by 52.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 31,852 shares of the company’s stock after selling 35,419 shares during the period. Raymond James & Associates’ holdings in Corpay were worth $9,962,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in Corpay by 21.2% in the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after purchasing an additional 35 shares during the period. Epic Trust Investment Advisors LLC increased its stake in Corpay by 4.1% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after acquiring an additional 39 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Corpay by 21.6% in the 2nd 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. Vontobel Holding Ltd. lifted its position in Corpay by 6.4% during the third quarter. Vontobel Holding Ltd. now owns 812 shares of the company’s stock valued at $254,000 after purchasing an additional 49 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Corpay by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock worth $352,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Trading Down 2.0 %

NYSE:CPAY opened at $332.02 on Wednesday. The stock has a market cap of $23.33 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.39 and a beta of 1.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The company’s 50 day moving average price is $320.15 and its 200-day moving average price is $294.12. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $355.47.

Corpay (NYSE:CPAY) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $973.84 million. During the same quarter last year, the firm posted $3.85 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Corpay, Inc. will post 17.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BMO Capital Markets increased their target price on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Wells Fargo & Company lifted their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Barclays boosted their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. Finally, Raymond James dropped their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $353.46.

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.