Corpay, Inc. (NYSE:CPAY) Shares Sold by BloombergSen Inc.

Key Points

• BloombergSen Inc. is now the 3rd largest holder of Corpay, Inc. (NYSE: CPAY), owning approximately 8.0% of its investment portfolio, after reducing its shareholding by 1.7% in the first quarter.
• Corpay's stock has increased by 0.6% recently, with a current trading price of $335.66 and a market capitalization of $23.66 billion.
• The company reported earnings of $4.51 EPS for the last quarter, exceeding estimates, and is projected to post 19.76 EPS for the current fiscal year.

BloombergSen Inc. cut its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 372,079 shares of the company's stock after selling 6,519 shares during the quarter. Corpay comprises 8.0% of BloombergSen Inc.'s investment portfolio, making the stock its 3rd biggest position. BloombergSen Inc. owned about 0.53% of Corpay worth $129,751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fulton Bank N.A. grew its holdings in shares of Corpay by 2.1% during the 1st quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock valued at $581,000 after purchasing an additional 34 shares during the last quarter. Wedmont Private Capital grew its holdings in Corpay by 3.2% in the 1st quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock worth $387,000 after acquiring an additional 34 shares during the last quarter. Continuum Advisory LLC grew its holdings in Corpay by 29.6% in the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after acquiring an additional 42 shares during the last quarter. Fifth Third Bancorp grew its holdings in Corpay by 1.6% in the 1st quarter. Fifth Third Bancorp now owns 2,691 shares of the company's stock worth $938,000 after acquiring an additional 43 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in Corpay by 16.7% in the 1st quarter. Signaturefd LLC now owns 300 shares of the company's stock worth $105,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Price Performance

NYSE CPAY traded down $0.15 on Monday, hitting $335.72. The company had a trading volume of 43,083 shares, compared to its average volume of 485,476. The company has a market capitalization of $23.66 billion, a PE ratio of 23.54, a PEG ratio of 1.28 and a beta of 0.95. The company's fifty day moving average price is $331.42 and its 200-day moving average price is $341.31. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.10 and a quick ratio of 1.10. Corpay, Inc. has a 12-month low of $265.06 and a 12-month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $1.02 billion. During the same quarter in the previous year, the company posted $4.10 EPS. The firm's quarterly revenue was up 7.5% on a year-over-year basis. As a group, analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPAY. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Raymond James Financial reaffirmed an "outperform" rating and issued a $414.00 target price (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a research report on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Oppenheimer initiated coverage on shares of Corpay in a research report on Monday, April 28th. They issued a "market perform" rating for the company. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $401.07.

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.