Corpay, Inc. $CPAY Shares Sold by Lyrical Asset Management LP

Key Points

• Lyrical Asset Management LP reduced its stake in Corpay, Inc. by 2.2% during the first quarter, now holding 723,096 shares, representing approximately 3.9% of its portfolio.
• Corpay's latest earnings report showed $5.13 earnings per share, exceeding analyst expectations, with a revenue of $1.10 billion for the quarter, reflecting a 12.9% year-over-year increase.
• Several brokerages have set new price targets for Corpay, with Morgan Stanley forecasting $356.00 and Raymond James at $392.00, while the consensus rating for the stock remains a "Moderate Buy".

Lyrical Asset Management LP decreased its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 723,096 shares of the company's stock after selling 16,523 shares during the period. Corpay makes up approximately 3.9% of Lyrical Asset Management LP's investment portfolio, making the stock its 13th largest position. Lyrical Asset Management LP owned about 1.03% of Corpay worth $252,158,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Colonial Trust Co SC boosted its position in shares of Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after purchasing an additional 53 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Corpay during the 1st quarter worth approximately $41,000. Rakuten Securities Inc. purchased a new position in shares of Corpay during the 1st quarter worth approximately $45,000. Larson Financial Group LLC boosted its position in shares of Corpay by 309.5% during the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after purchasing an additional 130 shares during the period. Finally, Continuum Advisory LLC boosted its position in shares of Corpay by 29.6% during the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Down 0.2%

Shares of CPAY traded down $0.76 during midday trading on Monday, reaching $316.90. The stock had a trading volume of 377,037 shares, compared to its average volume of 498,839. Corpay, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81. The company's fifty day simple moving average is $327.66 and its two-hundred day simple moving average is $335.70. The company has a market cap of $22.38 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.20 and a beta of 0.96. 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating 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 analyst estimates of $1.09 billion. During the same period last year, the business earned $4.55 EPS. The company's revenue was up 12.9% on a year-over-year basis. Equities research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CPAY shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a research report on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective for the company. Robert W. Baird set a $440.00 price objective on shares of Corpay in a research report on Tuesday, June 10th. Morgan Stanley lowered their price objective on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. UBS Group decreased their price target on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Finally, Oppenheimer began coverage on shares of Corpay in a research report on Monday, April 28th. They issued a "market perform" rating for the company. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Corpay currently has an average rating of "Moderate Buy" and an average price target of $396.33.

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.