Corpay, Inc. $CPAY Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets reduced its stake in Corpay, Inc. by 2.4% during the first quarter, now holding a total of 141,243 shares worth approximately $49.25 million.
• Corpay reported $5.13 earnings per share for the last quarter, exceeding analysts' expectations, with revenue of $1.10 billion, marking a 12.9% increase from the previous year.
• Nine analysts rated Corpay as a Buy, while five assigned a Hold rating, with an average price target of $399.43.

BNP Paribas Financial Markets lessened its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,243 shares of the company's stock after selling 3,482 shares during the period. BNP Paribas Financial Markets owned about 0.20% of Corpay worth $49,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Colonial Trust Co SC increased its stake in Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after buying an additional 53 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Corpay during the 1st quarter worth approximately $41,000. Rakuten Securities Inc. purchased a new stake in shares of Corpay in the first quarter valued at approximately $45,000. Larson Financial Group LLC grew its position in shares of Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after purchasing an additional 130 shares in the last quarter. Finally, Continuum Advisory LLC increased its holdings in shares of Corpay by 29.6% in the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James Financial set a $392.00 price objective on Corpay and gave the stock an "outperform" rating in a research report on Thursday, August 7th. UBS Group reduced their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Robert W. Baird set a $440.00 price objective on Corpay in a research report on Tuesday, June 10th. Morgan Stanley lowered their price objective on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Corpay in a research report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $399.43.

Corpay Trading Up 0.3%

NYSE:CPAY traded up $0.99 during trading hours on Wednesday, reaching $318.78. 406,606 shares of the stock were exchanged, compared to its average volume of 494,209. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The business has a 50-day moving average of $325.44 and a two-hundred day moving average of $331.34. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The company has a market capitalization of $22.51 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.24 and a beta of 1.00.

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

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.