Corpay, Inc. (NYSE:CPAY) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 32.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,029 shares of the company's stock after selling 5,894 shares during the quarter. Point72 Asset Management L.P.'s holdings in Corpay were worth $4,071,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after buying an additional 120,578 shares during the period. Park Avenue Securities LLC raised its position in shares of Corpay by 13.4% in the 4th quarter. Park Avenue Securities LLC now owns 1,648 shares of the company's stock worth $558,000 after buying an additional 195 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of Corpay by 77.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,133 shares of the company's stock worth $722,000 after buying an additional 929 shares during the period. Merit Financial Group LLC purchased a new position in shares of Corpay in the 4th quarter worth $530,000. Finally, Brooklyn Investment Group raised its position in shares of Corpay by 43.4% in the 4th quarter. Brooklyn Investment Group now owns 218 shares of the company's stock worth $74,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Down 0.6%

Shares of Corpay stock traded down $1.81 during trading hours on Thursday, hitting $326.19. 470,953 shares of the company's stock traded hands, compared to its average volume of 479,294. The stock has a 50 day simple moving average of $328.54 and a 200-day simple moving average of $350.41. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The company has a market cap of $22.99 billion, a PE ratio of 23.33, a PEG ratio of 1.32 and a beta of 0.98. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating the consensus estimate 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 41.46% and a net margin of 25.25%. The company's revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $4.10 earnings per share. Equities research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and issued a $414.00 target price (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Wells Fargo & Company cut their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Barclays cut their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $395.07.

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.