Corpay, Inc. $CPAY Shares Sold by 17 Capital Partners LLC

Key Points

• 17 Capital Partners LLC reduced its stake in Corpay, Inc. by 47.5%, now holding 1,392 shares worth approximately $485,000.
• Corpay reported quarterly earnings of $5.13 EPS, exceeding analysts' expectations, and experienced a 12.9% year-over-year revenue increase.
• Several analysts have adjusted their price targets for Corpay, with an average consensus target of $396.33 and a "Moderate Buy" rating overall.

17 Capital Partners LLC decreased its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 47.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,392 shares of the company's stock after selling 1,260 shares during the period. 17 Capital Partners LLC's holdings in Corpay were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CPAY. Meeder Advisory Services Inc. boosted its holdings in shares of Corpay by 5.0% in the first 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 holdings in Corpay by 0.7% during the first quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock worth $1,576,000 after buying an additional 32 shares during the period. Fulton Bank N.A. increased its position in shares of Corpay by 2.1% during the first quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock worth $581,000 after purchasing an additional 34 shares in the last quarter. Wedmont Private Capital increased its position in shares of Corpay by 3.2% during the first quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock worth $387,000 after purchasing an additional 34 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in shares of Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 98.84% of the company's stock.

Corpay Price Performance

Shares of NYSE:CPAY traded up $11.5420 on Friday, reaching $329.2020. 135,080 shares of the company were exchanged, compared to its average volume of 494,818. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81. The firm has a market cap of $23.24 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 1.20 and a beta of 0.96. The company has a 50-day moving average of $325.23 and a 200-day moving average of $334.60.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping 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 business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the prior year, the company posted $4.55 EPS. The business's revenue for the quarter was up 12.9% on a year-over-year basis. Equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on CPAY shares. Morgan Stanley dropped their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Robert W. Baird set a $440.00 target price on Corpay in a research note on Tuesday, June 10th. Wall Street Zen lowered shares of Corpay from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Oppenheimer assumed coverage on shares of Corpay in a research note on Monday, April 28th. They issued a "market perform" rating for the company. Finally, Raymond James Financial set a $392.00 price target on shares of Corpay and gave the company an "outperform" rating in a research 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 stock. According to MarketBeat, Corpay has a consensus rating of "Moderate Buy" and a consensus target price of $399.43.

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.