Corpay, Inc. $CPAY Shares Sold by Centerstone Investors LLC

Key Points

• Centerstone Investors LLC reduced its holdings in Corpay, Inc. by 79.8%, selling 8,466 shares and now holding a total of 2,147 shares worth approximately $749,000.
• Corpay is experiencing strong institutional interest, with 98.84% of its stock owned by institutional investors, including significant increases from firms like Wellington Management Group LLP and JPMorgan Chase & Co.
• The company's latest quarterly earnings showed a profit of $5.13 EPS, surpassing analysts' expectations, along with a revenue increase of 12.9% compared to last year.

Centerstone Investors LLC decreased its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 79.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,147 shares of the company's stock after selling 8,466 shares during the quarter. Corpay makes up 1.8% of Centerstone Investors LLC's portfolio, making the stock its 13th biggest position. Centerstone Investors LLC's holdings in Corpay were worth $749,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in Corpay by 6.2% during the first quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock valued at $11,642,000 after buying an additional 1,942 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Corpay during the first quarter valued at approximately $213,000. GAMMA Investing LLC raised its stake in Corpay by 9.9% during the first quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock valued at $560,000 after buying an additional 145 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Corpay by 9.2% during the first quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock valued at $1,016,000 after buying an additional 246 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in Corpay by 15.2% during the first quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock valued at $662,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Performance

CPAY stock traded down $5.05 on Monday, reaching $311.60. The company's stock had a trading volume of 667,763 shares, compared to its average volume of 487,905. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The company has a market capitalization of $22.00 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The firm has a fifty day moving average of $325.09 and a two-hundred day moving average of $329.86. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm's quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company posted $4.55 EPS. As a group, analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CPAY. UBS Group cut their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Morgan Stanley cut their price objective on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research report on Thursday, July 17th. They set a "buy" rating and a $390.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Corpay currently has a consensus rating of "Moderate Buy" and a consensus target price of $399.43.

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.