Crestline Management LP Lowers Stock Position in Corpay, Inc. (NYSE:CPAY)

Crestline Management LP reduced its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 95.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000 shares of the company's stock after selling 23,160 shares during the period. Crestline Management LP's holdings in Corpay were worth $338,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Corpay by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock valued at $2,623,702,000 after acquiring an additional 120,688 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after acquiring an additional 1,000,699 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock valued at $1,653,659,000 after acquiring an additional 120,578 shares in the last quarter. Boston Partners raised its stake in shares of Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after acquiring an additional 122,380 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in Corpay by 1.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after buying an additional 20,937 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CPAY shares. Morgan Stanley raised their price target on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods raised their price target on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Raymond James restated an "outperform" rating and issued a $414.00 price target (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Royal Bank of Canada raised their price target on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Finally, UBS Group cut their price target on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Corpay currently has a consensus rating of "Moderate Buy" and a consensus target price of $395.07.

Corpay Stock Performance

Shares of CPAY traded up $1.99 during midday trading on Friday, reaching $349.20. 104,309 shares of the stock were exchanged, compared to its average volume of 480,356. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.32 and a beta of 0.98. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The business's 50-day moving average price is $327.74 and its 200 day moving average price is $350.11. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.50 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.10 EPS. On average, sell-side analysts expect that Corpay, Inc. will post 19.76 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.