Corpay, Inc. (NYSE:CPAY) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 389,053 shares of the company's stock after selling 13,441 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.55% of Corpay worth $135,671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CPAY. Colonial Trust Co SC grew its stake 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 in the last quarter. Assetmark Inc. lifted its holdings in Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after buying an additional 60 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Corpay by 70.5% during 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 during the period. Rakuten Securities Inc. purchased a new stake in Corpay during the first quarter worth $45,000. Finally, Knuff & Co LLC purchased a new stake in Corpay during the fourth quarter worth $54,000. Institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

Shares of NYSE CPAY traded down $11.35 during mid-day trading on Friday, hitting $324.33. The stock had a trading volume of 430,162 shares, compared to its average volume of 473,559. 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 company has a 50 day moving average of $332.78 and a two-hundred day moving average of $342.22. Corpay, Inc. has a twelve month low of $265.06 and a twelve month high of $400.81. The firm has a market cap of $22.86 billion, a PE ratio of 17.77, a PEG ratio of 1.36 and a beta of 0.95.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company earned $4.10 earnings per share. The firm's revenue was up 7.5% on a year-over-year basis. Research analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CPAY has been the subject of a number of analyst reports. Wall Street Zen lowered Corpay from a "buy" rating to a "hold" rating in a report on Tuesday. Raymond James Financial restated an "outperform" rating and set a $414.00 target price (down previously from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Oppenheimer initiated coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating for the company. UBS Group lowered their target price on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Barclays reduced their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Six 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 company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $401.86.

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.