Corpay, Inc. (NYSE:CPAY) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 36.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,510 shares of the company's stock after purchasing an additional 3,085 shares during the quarter. Teacher Retirement System of Texas' holdings in Corpay were worth $4,014,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CPAY. First Horizon Advisors Inc. increased its stake in Corpay by 8.7% during the first quarter. First Horizon Advisors Inc. now owns 1,992 shares of the company's stock worth $695,000 after acquiring an additional 159 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in Corpay by 0.3% during the first quarter. Pinnacle Financial Partners Inc now owns 28,037 shares of the company's stock worth $9,777,000 after acquiring an additional 86 shares during the last quarter. Horizon Financial Services LLC increased its stake in Corpay by 17,325.0% during the first quarter. Horizon Financial Services LLC now owns 697 shares of the company's stock worth $243,000 after acquiring an additional 693 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in Corpay during the first quarter worth approximately $213,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Corpay by 2.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,254 shares of the company's stock worth $2,878,000 after acquiring an additional 189 shares during the last quarter. 98.84% of the stock is owned by institutional investors.

Corpay Trading Down 3.4%

Shares of NYSE CPAY traded down $11.35 during trading hours on Friday, reaching $324.33. The stock had a trading volume of 430,162 shares, compared to its average volume of 474,299. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69. The firm has a market cap of $22.86 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.39 and a beta of 0.95. The business's fifty day moving average price is $332.90 and its two-hundred day moving average price is $342.37. Corpay, Inc. has a 52-week low of $265.06 and a 52-week 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 (EPS) for the quarter, beating the consensus estimate of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The business'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 expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CPAY. Oppenheimer began coverage on Corpay in a research report on Monday, April 28th. They set a "market perform" rating for the company. UBS Group dropped 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. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Raymond James Financial restated an "outperform" rating and set a $414.00 target price (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Corpay currently has an average rating of "Moderate Buy" and a consensus price target of $401.86.

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.