Alps Advisors Inc. Sells 1,227 Shares of Corpay, Inc. (NYSE:CPAY)

Alps Advisors Inc. cut its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 32.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of 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 buying an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Corpay by 20.7% in the 4th 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 purchasing an additional 1,000,699 shares during the period. Norges Bank acquired a new position in shares of Corpay in the 4th quarter valued at about $241,739,000. GAMMA Investing LLC lifted its stake in shares of Corpay by 38,235.3% in the 1st quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock valued at $195,177,000 after purchasing an additional 558,236 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Corpay by 4,811.9% in the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock valued at $194,326,000 after purchasing an additional 545,907 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPAY has been the topic of a number of recent analyst reports. UBS Group dropped 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. Oppenheimer initiated coverage on Corpay in a research note on Monday, April 28th. They issued a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a research note on Thursday. They issued a "buy" rating and a $390.00 price objective on the stock. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $414.00 target price (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $401.07.

Corpay Stock Up 2.6%

Shares of Corpay stock traded up $8.50 on Thursday, hitting $335.56. The company had a trading volume of 507,210 shares, compared to its average volume of 474,153. The stock has a market capitalization of $23.65 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 1.37 and a beta of 0.95. Corpay, Inc. has a 1 year low of $265.06 and a 1 year high of $400.81. The stock has a 50 day moving average of $332.79 and a 200-day moving average of $341.79. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10.

Corpay (NYSE:CPAY - Get Free Report) last released its 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. Corpay's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.10 earnings per share. As a group, sell-side analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current 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.