Cornerstone Investment Partners LLC Has $69.06 Million Stake in Corpay, Inc. (NYSE:CPAY)

Cornerstone Investment Partners LLC cut its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 15.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,031 shares of the company's stock after selling 37,482 shares during the period. Corpay comprises approximately 3.3% of Cornerstone Investment Partners LLC's holdings, making the stock its 14th largest holding. Cornerstone Investment Partners LLC owned approximately 0.28% of Corpay worth $69,057,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Colonial Trust Co SC lifted its holdings 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. Assetmark Inc. lifted its holdings in Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after buying an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Corpay by 70.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock worth $45,000 after buying an additional 55 shares in the last quarter. Rakuten Securities Inc. acquired a new position in Corpay during the 1st quarter worth $45,000. Finally, Knuff & Co LLC acquired a new position in Corpay during the 4th quarter worth $54,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group cut their price target on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Oppenheimer assumed coverage on Corpay in a research note on Monday, April 28th. They issued a "market perform" rating on the stock. Wells Fargo & Company cut their price target 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. Raymond James Financial reissued an "outperform" rating and issued a $414.00 price target (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a research note on Tuesday, July 8th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $401.86.

Corpay Trading Down 3.4%

CPAY stock traded down $11.35 during midday trading on Friday, hitting $324.33. 430,162 shares of the company's stock were exchanged, compared to its average volume of 473,559. The stock's fifty day moving average price is $332.78 and its 200-day moving average price is $342.17. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $22.86 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 1.36 and a beta of 0.95. Corpay, Inc. has a one year low of $265.06 and a one year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share 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 41.61% and a net margin of 25.15%. The company's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.10 earnings per share. Research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.