Aviance Capital Partners LLC Trims Position in Corpay, Inc. (NYSE:CPAY)

Aviance Capital Partners LLC trimmed its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 13.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CPAY. Colonial Trust Co SC boosted its stake in shares of Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after purchasing an additional 53 shares during the period. Assetmark Inc. lifted its stake in Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after acquiring an additional 60 shares during the period. Rakuten Securities Inc. purchased a new stake in Corpay in the first quarter worth about $45,000. EverSource Wealth Advisors LLC lifted its stake in 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 acquiring an additional 55 shares during the period. Finally, Knuff & Co LLC purchased a new stake in Corpay in the fourth quarter worth about $54,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Robert W. Baird set a $440.00 price target on shares of Corpay in a research report on Tuesday, June 10th. Oppenheimer assumed coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating for the company. Raymond James Financial restated an "outperform" rating and set a $414.00 price objective (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a research note on Monday, June 30th. Finally, Barclays decreased their price target on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Five 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $401.86.

Corpay Stock Performance

Shares of Corpay stock traded up $2.00 during midday trading on Friday, hitting $339.10. The company had a trading volume of 409,806 shares, compared to its average volume of 478,372. The company has a fifty day simple moving average of $332.04 and a 200 day simple moving average of $342.62. The stock has a market cap of $23.90 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.43 and a beta of 0.95. Corpay, Inc. has a 12-month low of $265.06 and a 12-month high of $400.81. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69.

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. The business 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 business's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $4.10 earnings per share. As a group, analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.