Corpay, Inc. $CPAY Shares Sold by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in Corpay, Inc. by 4.6%, now holding 24,900 shares valued at approximately $8.26 million.
• Significant increases in holdings were reported by several hedge funds, with Select Equity Group L.P. growing its position by 1,302.3% and GAMMA Investing LLC by 38,235.3% in the first quarter.
• Corpay recently reported a quarterly earnings per share of $5.13, beating expectations, and a revenue increase of 12.9% year-over-year, aiming for an expected EPS of 19.76 for the current year.

Mn Services Vermogensbeheer B.V. cut its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,900 shares of the company's stock after selling 1,200 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Corpay were worth $8,262,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Select Equity Group L.P. increased its holdings in Corpay by 1,302.3% during the 1st quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company's stock worth $425,054,000 after purchasing an additional 1,131,975 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Corpay by 38,235.3% in the first quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock valued at $195,177,000 after purchasing an additional 558,236 shares during the last quarter. Bessemer Group Inc. grew its position in Corpay by 4,811.9% in the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock worth $194,326,000 after purchasing an additional 545,907 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Corpay by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock valued at $1,648,970,000 after buying an additional 472,147 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Corpay during the first quarter valued at $104,428,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James Financial set a $392.00 price target on Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective for the company. Morgan Stanley dropped 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. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Finally, UBS Group decreased their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $399.43.

Corpay Price Performance

Shares of CPAY opened at $301.78 on Friday. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The company has a market cap of $21.31 billion, a P/E ratio of 20.50, a PEG ratio of 1.16 and a beta of 1.00. The stock has a fifty day moving average price of $319.80 and a 200 day moving average price of $326.46. 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 (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating the consensus estimate of $5.11 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The firm's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.55 EPS. On average, research analysts forecast that Corpay, Inc. will post 19.76 earnings per share 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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