BloombergSen Inc. Sells 4,498 Shares of Corpay, Inc. $CPAY

Key Points

• BloombergSen Inc. reduced its stake in Corpay, Inc. by 1.2%, holding 367,581 shares after selling 4,498 shares during the 2nd quarter, making it the fund's 3rd largest holding.
• In recent evaluations, various brokerages have adjusted their target prices for Corpay, with Keefe, Bruyette & Woods lowering it from $445.00 to $400.00, while Wall Street Zen upgraded its rating from "hold" to "buy."
• Corpay reported earnings of $5.13 per share for the last quarter, exceeding analysts' expectations, with a revenue of $1.10 billion, reflecting a 12.9% increase year-over-year.

BloombergSen Inc. trimmed its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 367,581 shares of the company's stock after selling 4,498 shares during the period. Corpay comprises about 7.5% of BloombergSen Inc.'s portfolio, making the stock its 3rd largest holding. BloombergSen Inc. owned approximately 0.52% of Corpay worth $121,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CPAY. Zions Bancorporation National Association UT acquired a new position in shares of Corpay during the 1st quarter worth approximately $41,000. Rakuten Securities Inc. acquired a new position in shares of Corpay during the 1st quarter worth approximately $45,000. Larson Financial Group LLC boosted its holdings in shares of Corpay by 309.5% during the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after purchasing an additional 130 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of Corpay by 648.0% during the 1st quarter. Whipplewood Advisors LLC now owns 187 shares of the company's stock worth $65,000 after purchasing an additional 162 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Corpay by 20.5% during the 1st quarter. Advisors Asset Management Inc. now owns 264 shares of the company's stock worth $92,000 after purchasing an additional 45 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CPAY. Keefe, Bruyette & Woods lowered their target price on Corpay from $445.00 to $400.00 and set an "outperform" rating on the stock in a report on Wednesday. Morgan Stanley lowered their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a research report on Sunday. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a research report on Thursday, July 17th. They set a "buy" rating and a $390.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $396.21.

Corpay Stock Down 0.4%

Shares of NYSE CPAY opened at $286.82 on Thursday. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.09 and a beta of 0.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. The business's 50 day moving average is $313.86 and its two-hundred day moving average is $324.17.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.11 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.55 earnings per share. Research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Corpay 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.

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