CenterBook Partners LP Sells 1,311 Shares of Corpay, Inc. (NYSE:CPAY)

Key Points

• CenterBook Partners LP reduced its stake in Corpay, Inc. by 8.8%, holding 13,611 shares worth approximately $4.75 million after selling 1,311 shares.
• Corpay's most recent quarterly earnings reported an EPS of $4.51, slightly exceeding estimates and showing a 7.5% year-over-year revenue increase to $1.01 billion.
• Analysts have mixed ratings on Corpay, with a consensus rating of "Moderate Buy" and a target price averaging $401.07, while some analysts downgraded their targets recently.

CenterBook Partners LP lowered its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,611 shares of the company's stock after selling 1,311 shares during the quarter. CenterBook Partners LP's holdings in Corpay were worth $4,746,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Corpay by 163.7% during the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock worth $570,801,000 after purchasing an additional 1,047,080 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Corpay by 20.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after purchasing an additional 1,000,699 shares during the last quarter. GAMMA Investing LLC lifted its stake in Corpay by 38,235.3% in the first quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock valued at $195,177,000 after buying an additional 558,236 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Corpay by 4,811.9% during the first quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock worth $194,326,000 after buying an additional 545,907 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of Corpay during the fourth quarter worth approximately $116,179,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wall Street Zen raised Corpay from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Raymond James Financial set a $392.00 target price on Corpay and gave the company an "outperform" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price on the stock. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday, June 10th. Finally, Wells Fargo & Company decreased their price objective on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Corpay currently has an average rating of "Moderate Buy" and an average price target of $396.33.

Corpay Price Performance

NYSE CPAY traded up $1.70 on Monday, hitting $303.40. 170,144 shares of the company's stock were exchanged, compared to its average volume of 495,236. The stock has a 50-day moving average of $329.21 and a 200-day moving average of $338.07. The company has a current ratio of 1.12, a quick 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 stock has a market cap of $21.42 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 1.14 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $4.55 earnings per share. Corpay's quarterly revenue was up 12.9% on a year-over-year basis. Analysts expect that Corpay, Inc. will post 19.76 earnings per share 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.