Alps Advisors Inc. Trims Stake in Corpay, Inc. (NYSE:CPAY)

Alps Advisors Inc. lowered its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 32.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,530 shares of the company's stock after selling 1,227 shares during the quarter. Alps Advisors Inc.'s holdings in Corpay were worth $882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Colonial Trust Co SC grew its holdings in Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after purchasing an additional 53 shares during the period. Assetmark Inc. grew its holdings in Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after purchasing an additional 60 shares during the period. Rakuten Securities Inc. bought a new position in shares of Corpay in the first quarter worth approximately $45,000. EverSource Wealth Advisors LLC lifted its stake in shares of Corpay by 70.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock worth $45,000 after buying an additional 55 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of Corpay by 29.6% in the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CPAY shares. UBS Group dropped their target price on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Oppenheimer started coverage on shares of Corpay in a research note on Monday, April 28th. They issued a "market perform" rating on the stock. Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. Raymond James Financial reiterated an "outperform" rating and issued a $414.00 target price (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Corpay has a consensus rating of "Moderate Buy" and a consensus price target of $401.86.

Corpay Trading Down 3.4%

NYSE:CPAY opened at $324.33 on Monday. Corpay, Inc. has a one year low of $265.06 and a one year 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 cap of $22.86 billion, a P/E ratio of 22.74, a P/E/G ratio of 1.36 and a beta of 0.95. The firm has a 50-day simple moving average of $332.78 and a 200-day simple moving average of $342.17.

Corpay (NYSE:CPAY - Get Free Report) last posted 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 firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Corpay had a net margin of 25.15% and a return on equity of 41.61%. Corpay's revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.10 EPS. Equities analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

About Corpay

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.

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