Agate Pass Investment Management LLC Trims Stake in Corpay, Inc. (NYSE:CPAY)

Agate Pass Investment Management LLC decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,202 shares of the company's stock after selling 1,032 shares during the quarter. Corpay comprises about 1.4% of Agate Pass Investment Management LLC's investment portfolio, making the stock its 21st largest position. Agate Pass Investment Management LLC's holdings in Corpay were worth $3,209,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Avion Wealth grew its holdings in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after buying an additional 53 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of Corpay during the fourth quarter valued at about $42,000. Assetmark Inc. lifted its position in shares of Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after buying an additional 60 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of Corpay during the fourth quarter valued at about $43,000. Institutional investors own 98.84% of the company's stock.

Corpay Stock Up 0.9%

Shares of CPAY stock traded up $2.76 on Tuesday, reaching $324.83. 100,943 shares of the company were exchanged, compared to its average volume of 479,778. 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, Inc. has a one year low of $247.10 and a one year high of $400.81. The company has a market cap of $22.90 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.32 and a beta of 0.98. The company has a 50-day moving average of $324.37 and a 200-day moving average of $348.60.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping the consensus estimate of $4.50 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a net margin of 25.25% and a return on equity of 41.46%. Corpay's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $4.10 EPS. Analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CPAY. Keefe, Bruyette & Woods increased their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Morgan Stanley boosted their price target on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Wells Fargo & Company decreased their price objective on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Oppenheimer initiated coverage on Corpay in a report on Monday, April 28th. They issued a "market perform" rating on the stock. Finally, UBS Group decreased 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 analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $395.07.

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.