CenterBook Partners LP Has $4.75 Million Stake in 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 trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,611 shares of the company's stock after selling 1,311 shares during the period. CenterBook Partners LP's holdings in Corpay were worth $4,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPAY. Deutsche Bank AG increased its position in Corpay by 1.4% in the 1st quarter. Deutsche Bank AG now owns 266,206 shares of the company's stock worth $92,831,000 after purchasing an additional 3,791 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Corpay by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 492,399 shares of the company's stock worth $171,709,000 after purchasing an additional 16,941 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in Corpay in the 1st quarter worth about $491,000. Vanguard Group Inc. increased its position in Corpay by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company's stock worth $2,745,398,000 after purchasing an additional 119,987 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in Corpay in the 1st quarter worth about $3,099,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

NYSE:CPAY traded down $2.77 during mid-day trading on Friday, hitting $301.73. 580,200 shares of the company's stock traded hands, compared to its average volume of 540,849. The firm has a 50 day moving average of $329.21 and a two-hundred day moving average of $338.59. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.16 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $4.55 EPS. The company's quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CPAY. Wall Street Zen raised Corpay from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Barclays decreased their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company decreased their price target on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Oppenheimer assumed coverage on Corpay in a research note on Monday, April 28th. They set a "market perform" rating for the company. Finally, Robert W. Baird set a $440.00 price target on Corpay in a research note on Tuesday, June 10th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Corpay presently has a consensus rating of "Moderate Buy" and a consensus price target of $397.93.

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.