American Century Companies Inc. Lowers Position in Corpay, Inc. $CPAY

Key Points

• American Century Companies Inc. reduced its stake in Corpay, Inc. by 15.8%, selling 72,598 shares and holding 386,270 shares valued at approximately $134.7 million by the end of the 1st quarter.
• Corpay recently reported a quarterly earnings per share of $5.13, exceeding analysts' expectations, with revenue growth of 12.9% year-over-year.
• Corpay stocks have received mixed ratings from analysts, with an average rating of "Moderate Buy" and a price target averaging around $396.33.

American Century Companies Inc. reduced its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 15.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 386,270 shares of the company's stock after selling 72,598 shares during the quarter. American Century Companies Inc. owned about 0.55% of Corpay worth $134,700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC lifted its stake in Corpay by 6.2% in the first quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock valued at $11,642,000 after buying an additional 1,942 shares during the period. DAVENPORT & Co LLC acquired a new position in Corpay in the first quarter valued at approximately $213,000. GAMMA Investing LLC lifted its stake in Corpay by 9.9% in the first quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock valued at $560,000 after buying an additional 145 shares during the period. Janney Montgomery Scott LLC lifted its stake in Corpay by 9.2% in the first quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock valued at $1,016,000 after buying an additional 246 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in Corpay by 15.2% in the first quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock valued at $662,000 after buying an additional 250 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CPAY. Robert W. Baird set a $440.00 price objective on Corpay in a report on Tuesday, June 10th. Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. UBS Group decreased their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Morgan Stanley decreased their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Corpay has an average rating of "Moderate Buy" and a consensus price target of $399.43.

Corpay Stock Performance

Shares of NYSE CPAY traded up $11.1350 during trading on Friday, reaching $328.7950. 123,689 shares of the stock traded hands, compared to its average volume of 494,702. 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 current ratio of 1.12 and a quick ratio of 1.12. The company has a 50-day moving average of $325.23 and a 200-day moving average of $334.60. The stock has a market capitalization of $23.22 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.20 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.09 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts forecast 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.