Corpay, Inc. (NYSE:CPAY) Stock Position Trimmed by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 570,118 shares of the company's stock after selling 47,033 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.81% of Corpay worth $198,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Gallacher Capital Management LLC raised its holdings in Corpay by 28.7% in the first quarter. Gallacher Capital Management LLC now owns 1,366 shares of the company's stock valued at $476,000 after buying an additional 305 shares during the period. William Allan Corp lifted its holdings in shares of Corpay by 425.2% during the 1st quarter. William Allan Corp now owns 6,234 shares of the company's stock valued at $2,174,000 after acquiring an additional 5,047 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Corpay by 3.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 5,300 shares of the company's stock worth $1,849,000 after purchasing an additional 171 shares during the period. Dynasty Wealth Management LLC increased its holdings in Corpay by 3.6% in the 1st quarter. Dynasty Wealth Management LLC now owns 6,060 shares of the company's stock valued at $2,113,000 after purchasing an additional 212 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Corpay by 5.5% in the 1st quarter. Victory Capital Management Inc. now owns 206,313 shares of the company's stock valued at $71,945,000 after purchasing an additional 10,817 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Performance

Shares of NYSE CPAY traded down $14.77 during midday trading on Thursday, hitting $329.37. The company's stock had a trading volume of 384,625 shares, compared to its average volume of 484,347. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. Corpay, Inc. has a 1-year low of $265.06 and a 1-year high of $400.81. The firm's fifty day moving average price is $331.94 and its 200-day moving average price is $341.67. The firm has a market cap of $23.22 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.27 and a beta of 0.95.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. Corpay's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.10 earnings per share. On average, sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group decreased their target price on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company decreased their price target on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Robert W. Baird set a $440.00 target price on shares of Corpay in a research report on Tuesday, June 10th. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $414.00 price objective (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Corpay currently has a consensus rating of "Moderate Buy" and an average target price of $401.07.

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.