Banco Bilbao Vizcaya Argentaria S.A. Sells 1,798 Shares of Corpay, Inc. $CPAY

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in Corpay, Inc. by 5.0%, now owning 34,226 shares valued at approximately $11.93 million.
• Several hedge funds have increased their stakes in Corpay, including Vanguard Group, which grew its share to 7.87 million shares worth $2.75 billion.
• Corpay's average rating among analysts is "Moderate Buy," with a consensus target price of $399.43, despite some reductions in price targets by research firms.

Banco Bilbao Vizcaya Argentaria S.A. lessened its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,226 shares of the company's stock after selling 1,798 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Corpay were worth $11,932,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CPAY. Mariner LLC boosted its stake in shares of Corpay by 11.2% during the fourth quarter. Mariner LLC now owns 9,986 shares of the company's stock valued at $3,379,000 after purchasing an additional 1,005 shares during the period. Walleye Capital LLC lifted its stake in Corpay by 165.5% in the fourth quarter. Walleye Capital LLC now owns 1,114 shares of the company's stock worth $377,000 after acquiring an additional 2,814 shares during the period. NewEdge Advisors LLC lifted its stake in Corpay by 2.4% in the fourth quarter. NewEdge Advisors LLC now owns 2,565 shares of the company's stock worth $868,000 after acquiring an additional 59 shares during the period. Marshall Wace LLP purchased a new stake in Corpay in the fourth quarter worth $1,583,000. Finally, GeoWealth Management LLC purchased a new stake in Corpay in the fourth quarter worth $188,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CPAY. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target for the company. UBS Group decreased their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Robert W. Baird set a $440.00 price objective on Corpay in a report on Tuesday, June 10th. Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Morgan Stanley decreased their price objective on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Corpay currently has a consensus rating of "Moderate Buy" and an average target price of $399.43.

Corpay Stock Up 4.1%

Shares of NYSE:CPAY traded up $13.1330 on Friday, hitting $330.7930. 360,730 shares of the company traded hands, compared to its average volume of 555,364. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The stock has a 50 day simple moving average of $325.39 and a 200-day simple moving average of $334.26. The company has a market cap of $23.36 billion, a PE ratio of 22.47, a PEG ratio of 1.20 and a beta of 0.96.

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