Point72 Asia Singapore Pte. Ltd. Sells 830 Shares of Corpay, Inc. (NYSE:CPAY)

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 86.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 134 shares of the company's stock after selling 830 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Corpay were worth $45,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Corpay by 17.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock worth $8,067,000 after buying an additional 3,504 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Corpay by 70.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock worth $1,689,000 after purchasing an additional 2,059 shares during the period. Nisa Investment Advisors LLC boosted its stake in Corpay by 68.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company's stock worth $1,342,000 after purchasing an additional 1,611 shares during the period. Journey Strategic Wealth LLC acquired a new position in Corpay in the 4th quarter worth approximately $499,000. Finally, Proficio Capital Partners LLC acquired a new position in Corpay in the 4th quarter worth approximately $28,632,000. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CPAY has been the subject of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Corpay in a research note on Monday, April 28th. They issued a "market perform" rating for the company. Raymond James reaffirmed an "outperform" rating and issued a $414.00 price objective (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Wells Fargo & Company decreased their price objective on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Morgan Stanley raised their price objective on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, UBS Group decreased their target price on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $395.07.

Corpay Stock Down 0.5%

Shares of NYSE:CPAY traded down $1.63 during trading on Friday, reaching $324.50. 333,868 shares of the company traded hands, compared to its average volume of 479,727. The firm has a market cap of $22.87 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. The firm has a fifty day simple moving average of $327.64 and a 200 day simple moving average of $350.35. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a net margin of 25.25% and a return on equity of 41.46%. Corpay's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.10 EPS. Analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.