California State Teachers Retirement System Lowers Stock Holdings in Corpay, Inc. (NYSE:CPAY)

California State Teachers Retirement System reduced its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,929 shares of the company's stock after selling 8,393 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Corpay worth $34,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Colonial Trust Co SC increased its position in Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after buying an additional 53 shares in the last quarter. Avion Wealth increased its position in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after buying an additional 91 shares in the last quarter. Spire Wealth Management acquired a new position in shares of Corpay in the fourth quarter valued at about $42,000. Assetmark Inc. increased its holdings in shares of Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after purchasing an additional 60 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Corpay by 70.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock valued at $45,000 after purchasing an additional 55 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CPAY shares. Keefe, Bruyette & Woods increased their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Oppenheimer started coverage on Corpay in a report on Monday, April 28th. They issued a "market perform" rating on the stock. Barclays cut their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company cut their price objective on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Royal Bank of Canada increased their price objective on Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Corpay has a consensus rating of "Moderate Buy" and a consensus target price of $395.07.

Corpay Stock Performance

Corpay stock traded down $2.99 during midday trading on Monday, hitting $322.12. 646,841 shares of the company were exchanged, compared to its average volume of 481,247. The firm has a market capitalization of $22.71 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The business has a fifty day simple moving average of $324.37 and a two-hundred day simple moving average of $348.60. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping the consensus estimate of $4.50 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Corpay had a return on equity of 41.46% and a net margin of 25.25%. Corpay's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $4.10 earnings per share. On average, sell-side analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current 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.