Aviance Capital Partners LLC Lowers Stake in Corpay, Inc. (NYSE:CPAY)

Aviance Capital Partners LLC trimmed its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,880 shares of the company's stock after selling 2,143 shares during the quarter. Aviance Capital Partners LLC's holdings in Corpay were worth $4,840,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CPAY. Smartleaf Asset Management LLC boosted its stake in shares of Corpay by 33.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 438 shares of the company's stock worth $148,000 after acquiring an additional 109 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Corpay by 28.6% during the 4th quarter. Jones Financial Companies Lllp now owns 809 shares of the company's stock worth $274,000 after acquiring an additional 180 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Corpay by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company's stock worth $160,904,000 after acquiring an additional 16,981 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Corpay by 26.4% during the 4th quarter. Victory Capital Management Inc. now owns 195,496 shares of the company's stock worth $66,160,000 after acquiring an additional 40,798 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after acquiring an additional 60 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Trading Down 2.0%

Shares of NYSE CPAY traded down $6.84 during midday trading on Monday, reaching $332.26. 419,447 shares of the stock were exchanged, compared to its average volume of 478,136. The company has a 50 day simple moving average of $332.04 and a 200 day simple moving average of $342.65. The stock has a market capitalization of $23.42 billion, a P/E ratio of 23.30, a PEG ratio of 1.43 and a beta of 0.95. 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, Inc. has a twelve month low of $265.06 and a twelve month high of $400.81.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CPAY. Wells Fargo & Company decreased their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Oppenheimer began coverage on shares of Corpay in a research note on Monday, April 28th. They issued a "market perform" rating on the stock. Barclays decreased their price target on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a research note on Monday, June 30th. Finally, UBS Group decreased their price target 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. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Corpay has an average rating of "Moderate Buy" and a consensus target price of $401.86.

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.