AlphaQuest LLC Cuts Stock Holdings in Corpay, Inc. $CPAY

Key Points

• AlphaQuest LLC significantly decreased its stake in Corpay, Inc. by 96.2% in Q1, reducing its holdings to 246 shares valued at $86,000.
• Institutional investors control 98.84% of Corpay's stock, with major increases in holdings from GAMMA Investing LLC and Bessemer Group Inc. during the same quarter.
• Corpay reported $5.13 EPS for the last quarter, exceeding analysts' estimates, along with a 12.9% increase in revenue year-over-year.

AlphaQuest LLC trimmed its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 96.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 246 shares of the company's stock after selling 6,266 shares during the period. AlphaQuest LLC's holdings in Corpay were worth $86,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CPAY. Colonial Trust Co SC boosted its holdings in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after buying an additional 53 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Corpay in the 1st quarter worth about $41,000. Rakuten Securities Inc. acquired a new stake in Corpay in the 1st quarter worth about $45,000. Larson Financial Group LLC lifted its stake in Corpay by 309.5% in the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after purchasing an additional 130 shares in the last quarter. Finally, Continuum Advisory LLC boosted its holdings in shares of Corpay by 29.6% during the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after purchasing an additional 42 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Raymond James Financial set a $392.00 target price on Corpay and gave the stock an "outperform" rating in a report on Thursday, August 7th. UBS Group lowered their target price on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Morgan Stanley lowered their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday, June 10th. Finally, Wall Street Zen cut Corpay from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $399.43.

Corpay Trading Down 1.0%

Shares of CPAY traded down $3.29 during midday trading on Friday, hitting $316.65. 259,724 shares of the stock were exchanged, compared to its average volume of 486,841. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a fifty day simple moving average of $325.31 and a 200 day simple moving average of $330.94. The firm has a market cap of $22.36 billion, a P/E ratio of 21.51, a P/E/G ratio of 1.21 and a beta of 1.00.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the business earned $4.55 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.