Corpay, Inc. $CPAY Shares Sold by Compound Global Advisors LLC

Key Points

• Compound Global Advisors LLC significantly reduced its stake in Corpay, Inc. by 89.2%, ending the second quarter with only 210 shares, valued at approximately $70,000.
• Analysts have mixed views on Corpay, with eight giving it a Buy rating and five issuing a Hold rating, resulting in a consensus price target of $395.58.
• Corpay reported earnings of $5.13 per share for the last quarter, exceeding expectations, and showed a 12.9% year-over-year revenue growth, amounting to $1.10 billion.

Compound Global Advisors LLC lessened its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 89.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210 shares of the company's stock after selling 1,732 shares during the period. Corpay accounts for 6.4% of Compound Global Advisors LLC's portfolio, making the stock its 8th largest holding. Compound Global Advisors LLC's holdings in Corpay were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CPAY. Atria Wealth Solutions Inc. boosted its stake in Corpay by 4.7% in the second quarter. Atria Wealth Solutions Inc. now owns 695 shares of the company's stock valued at $231,000 after acquiring an additional 31 shares during the last quarter. Meeder Advisory Services Inc. lifted its stake in shares of Corpay by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock valued at $236,000 after purchasing an additional 32 shares during the period. Townsquare Capital LLC lifted its stake in shares of Corpay by 0.7% in the 1st quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock valued at $1,576,000 after purchasing an additional 32 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Corpay by 0.3% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,666 shares of the company's stock worth $4,417,000 after purchasing an additional 35 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Corpay by 19.4% during the second quarter. Blue Trust Inc. now owns 246 shares of the company's stock worth $82,000 after purchasing an additional 40 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CPAY shares. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 target price on the stock. Keefe, Bruyette & Woods cut their price target on shares of Corpay from $445.00 to $400.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 1st. Wall Street Zen cut shares of Corpay from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corpay in a research note on Wednesday, October 8th. Finally, Morgan Stanley reduced their price target on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $395.58.

Corpay Price Performance

NYSE CPAY opened at $277.70 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $19.61 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.09 and a beta of 0.97. The business has a 50 day simple moving average of $305.59 and a 200 day simple moving average of $319.20. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81.

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