Corpay, Inc. (NYSE:CPAY) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its holdings in Corpay, Inc. by 9.5%, ending the most recent quarter with 157,534 shares valued at approximately $54.9 million.
• Analysts have set varying price targets for Corpay, with UBS Group lowering their target from $400 to $365, while Deutsche Bank initiated coverage with a $390 target and a "buy" rating.
• Corpay's recent earnings report showed an EPS of $4.51, slightly surpassing analyst estimates, with revenue up 7.5% from the same quarter last year, totaling $1.01 billion.

TD Asset Management Inc reduced its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 9.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,534 shares of the company's stock after selling 16,567 shares during the period. TD Asset Management Inc owned approximately 0.22% of Corpay worth $54,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CPAY. LPL Financial LLC increased its position in Corpay by 19.7% during the 4th quarter. LPL Financial LLC now owns 9,823 shares of the company's stock valued at $3,324,000 after buying an additional 1,620 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Corpay by 14.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,988 shares of the company's stock valued at $12,179,000 after purchasing an additional 4,629 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Corpay by 3.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,660 shares of the company's stock valued at $35,436,000 after purchasing an additional 3,017 shares during the period. Norges Bank acquired a new position in shares of Corpay in the fourth quarter valued at about $241,739,000. Finally, Maridea Wealth Management LLC acquired a new position in shares of Corpay in the fourth quarter valued at about $245,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Price Performance

Shares of NYSE CPAY traded down $2.18 during midday trading on Monday, hitting $333.69. The stock had a trading volume of 300,941 shares, compared to its average volume of 430,483. The company has a market capitalization of $23.52 billion, a PE ratio of 23.40, a P/E/G ratio of 1.28 and a beta of 0.95. The stock has a 50 day simple moving average of $331.12 and a 200-day simple moving average of $341.20. Corpay, Inc. has a 1 year low of $265.06 and a 1 year high of $400.81. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69.

Corpay (NYSE:CPAY - Get Free Report) last released 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. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the business posted $4.10 earnings per share. The business's quarterly revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James Financial reissued an "outperform" rating and issued a $414.00 price objective (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Oppenheimer began coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Wells Fargo & Company dropped their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Wall Street Zen raised Corpay from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, UBS Group dropped their target price on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Corpay has an average rating of "Moderate Buy" and an average target price of $401.07.

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.