Corpay, Inc. $CPAY Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. decreased its stake in Corpay, Inc. by 9.9%, owning approximately 2.50% of the company, valued at $612.56 million after selling 193,307 shares.
• Corpay's earnings report revealed a 12.9% year-over-year revenue increase, reporting $1.10 billion for the quarter, surpassing consensus estimates.
• Analysts have mixed opinions on Corpay's stock, with target price estimates ranging from $339.00 to $440.00 and an average rating of "Moderate Buy."

T. Rowe Price Investment Management Inc. lessened its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 9.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,756,606 shares of the company's stock after selling 193,307 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.50% of Corpay worth $612,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CPAY. Colonial Trust Co SC raised its holdings in shares of Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after acquiring an additional 53 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Corpay during the 1st quarter worth $41,000. Rakuten Securities Inc. acquired a new position in shares of Corpay during the first quarter valued at about $45,000. Larson Financial Group LLC raised its holdings in shares of Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after buying an additional 130 shares during the last quarter. Finally, Continuum Advisory LLC raised its stake in Corpay by 29.6% in the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after acquiring an additional 42 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird set a $440.00 price objective on shares of Corpay in a research note on Tuesday, June 10th. Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. UBS Group lowered 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. Oppenheimer began coverage on shares of Corpay in a report on Monday, April 28th. They set a "market perform" rating for the company. 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 analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $399.43.

Corpay Stock Up 4.1%

Shares of NYSE:CPAY traded up $13.1330 during trading hours on Friday, reaching $330.7930. The stock had a trading volume of 360,730 shares, compared to its average volume of 555,364. The firm's 50 day moving average is $325.39 and its 200-day moving average is $334.26. The stock has a market capitalization of $23.36 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 1.20 and a beta of 0.96. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the prior year, the company posted $4.55 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts predict that Corpay, Inc. will post 19.76 earnings per share 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.