Alpine Woods Capital Investors LLC Has $2.26 Million Stake in Corpay, Inc. (NYSE:CPAY)

Alpine Woods Capital Investors LLC reduced its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,483 shares of the company's stock after selling 4,065 shares during the period. Alpine Woods Capital Investors LLC's holdings in Corpay were worth $2,261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CPAY. Invesco Ltd. lifted its holdings in Corpay by 163.7% during the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock worth $570,801,000 after purchasing an additional 1,047,080 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after acquiring an additional 1,000,699 shares during the period. Norges Bank bought a new position in Corpay during the 4th quarter worth $241,739,000. GAMMA Investing LLC increased its stake in Corpay by 38,235.3% during the 1st quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock worth $195,177,000 after acquiring an additional 558,236 shares during the period. Finally, Bessemer Group Inc. increased its stake in Corpay by 4,811.9% during the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock worth $194,326,000 after acquiring an additional 545,907 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Trading Down 3.4%

Shares of Corpay stock traded down $11.35 on Friday, hitting $324.33. The stock had a trading volume of 430,162 shares, compared to its average volume of 473,559. The stock has a 50 day moving average of $332.78 and a 200 day moving average of $342.19. Corpay, Inc. has a twelve month low of $265.06 and a twelve month high of $400.81. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $22.86 billion, a P/E ratio of 22.74, a PEG ratio of 1.36 and a beta of 0.95.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.50 by $0.01. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the prior year, the business earned $4.10 EPS. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. Sell-side analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CPAY. Barclays lowered their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Wells Fargo & Company lowered their price objective on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. UBS Group lowered their price objective on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Wall Street Zen cut Corpay from a "buy" rating to a "hold" rating in a report on Tuesday, July 8th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $401.86.

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.