Gotham Asset Management LLC Cuts Position in Corpay, Inc. $CPAY

Key Points

• Gotham Asset Management LLC reduced its stake in Corpay, Inc. by 5.4%, owning 53,644 shares valued at $18.7 million after selling 3,081 shares in the first quarter.
• Corpay's stock experienced fluctuations, and analysts set a range of price targets, with the average target at $399.43, indicating a consensus of "Moderate Buy."
• The company reported earnings per share of $5.13 for the last quarter, exceeding expectations and demonstrating a yearly revenue increase of 12.9%.

Gotham Asset Management LLC lowered its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 53,644 shares of the company's stock after selling 3,081 shares during the period. Gotham Asset Management LLC owned about 0.08% of Corpay worth $18,707,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in Corpay by 6.2% during the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock valued at $11,642,000 after acquiring an additional 1,942 shares during the period. DAVENPORT & Co LLC purchased a new stake in Corpay during the 1st quarter valued at about $213,000. GAMMA Investing LLC boosted its holdings in Corpay by 9.9% during the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock valued at $560,000 after acquiring an additional 145 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Corpay by 9.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock valued at $1,016,000 after acquiring an additional 246 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in Corpay by 15.2% during the 1st quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock valued at $662,000 after acquiring an additional 250 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several analyst reports. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price target on the stock. Morgan Stanley reduced their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Finally, Raymond James Financial set a $392.00 price target on Corpay and gave the company an "outperform" rating in a report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Corpay currently has an average rating of "Moderate Buy" and an average price target of $399.43.

Corpay Stock Down 2.6%

CPAY traded down $8.29 on Wednesday, hitting $304.84. The company had a trading volume of 292,415 shares, compared to its average volume of 486,551. 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, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. The stock has a fifty day simple moving average of $324.16 and a 200-day simple moving average of $329.38. The firm has a market capitalization of $21.53 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.18 and a beta of 1.00.

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

Corpay Company 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.