Cornerstone Investment Partners LLC Sells 37,482 Shares of Corpay, Inc. (NYSE:CPAY)

Cornerstone Investment Partners LLC decreased its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 15.9% in the first quarter, according to 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 makes up about 3.3% of Cornerstone Investment Partners LLC's portfolio, making the stock its 14th biggest holding. Cornerstone Investment Partners LLC owned about 0.28% of Corpay worth $69,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Corpay by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock valued at $2,623,702,000 after acquiring an additional 120,688 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Corpay by 20.7% during the 4th 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. Boston Partners boosted its holdings in shares of Corpay by 6.4% during the 4th quarter. Boston Partners now owns 2,045,398 shares of the company's stock worth $694,847,000 after purchasing an additional 122,380 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Corpay by 1.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after acquiring an additional 20,937 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Corpay by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company's stock valued at $584,962,000 after acquiring an additional 54,894 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analyst Ratings Changes

CPAY has been the topic of several recent analyst reports. Barclays dropped their target price on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Wall Street Zen lowered Corpay from a "buy" rating to a "hold" rating in a report on Tuesday. Wells Fargo & Company reduced their price objective on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Oppenheimer started coverage on shares of Corpay in a research report on Monday, April 28th. They set a "market perform" rating for the company. Finally, Robert W. Baird set a $440.00 price objective on Corpay in a research report on Tuesday, June 10th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $401.86.

Corpay Stock Up 0.4%

Shares of NYSE CPAY traded up $1.17 during midday trading on Thursday, reaching $332.36. 6,245 shares of the company's stock were exchanged, compared to its average volume of 473,425. The stock has a market capitalization of $23.43 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95. The business's fifty day moving average price is $332.64 and its two-hundred day moving average price is $342.42. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. Corpay, Inc. has a 52-week low of $265.06 and a 52-week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business earned $4.10 earnings per share. Corpay's revenue was up 7.5% compared to the same quarter last year. Analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

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.

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