Tredje AP fonden Sells 22,369 Shares of Corpay, Inc. (NYSE:CPAY)

Tredje AP fonden lessened its position in shares of Corpay, Inc. (NYSE:CPAY) by 66.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,530 shares of the company’s stock after selling 22,369 shares during the period. Tredje AP fonden’s holdings in Corpay were worth $3,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. increased its position in Corpay by 20.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,212 shares of the company’s stock worth $323,000 after acquiring an additional 208 shares during the period. Mutual of America Capital Management LLC bought a new position in shares of Corpay during the second quarter worth approximately $3,745,000. Montag & Caldwell LLC acquired a new stake in shares of Corpay in the second quarter valued at approximately $724,000. Dimensional Fund Advisors LP boosted its stake in shares of Corpay by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock valued at $191,497,000 after buying an additional 70,408 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its position in Corpay by 12.2% during the second quarter. Thompson Siegel & Walmsley LLC now owns 266,272 shares of the company’s stock worth $70,938,000 after buying an additional 28,959 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company initiated 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. Raymond James dropped their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. 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 report on Tuesday, August 20th. Finally, Evercore ISI dropped their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $334.58.

Corpay Stock Up 1.6 %

CPAY opened at $312.78 on Friday. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $319.94. The business’s fifty day moving average price is $295.65. The firm has a market capitalization of $21.98 billion, a PE ratio of 23.27, a PEG ratio of 1.22 and a beta of 1.22. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02.

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 the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same period last year, the company posted $3.85 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. Sell-side analysts anticipate that Corpay, Inc. will post 17.81 EPS for the current fiscal year.

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.