Diversified Trust Co Decreases Position in Corpay, Inc. $CPAY

Key Points

• Diversified Trust Co has reduced its stake in Corpay, Inc. ($CPAY) by 10.1% in the second quarter, now owning 22,109 shares valued at approximately $7.34 million.
• A majority of institutional investors own 98.84% of Corpay's stock, with significant changes in positions from firms like Zions Bancorporation and Whipplewood Advisors.
• Corpay's latest earnings report revealed an EPS of $5.13, surpassing expectations, with revenue growth of 12.9% year-over-year.

Diversified Trust Co decreased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 10.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,109 shares of the company's stock after selling 2,488 shares during the quarter. Diversified Trust Co's holdings in Corpay were worth $7,336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPAY. Cetera Investment Advisers lifted its holdings in shares of Corpay by 19.5% during the fourth quarter. Cetera Investment Advisers now owns 3,513 shares of the company's stock worth $1,189,000 after purchasing an additional 574 shares during the period. Royal Bank of Canada boosted its position in Corpay by 90.8% in the 4th quarter. Royal Bank of Canada now owns 108,217 shares of the company's stock worth $36,623,000 after purchasing an additional 51,509 shares in the last quarter. State of Wyoming boosted its position in Corpay by 17.6% in the 4th quarter. State of Wyoming now owns 743 shares of the company's stock worth $251,000 after purchasing an additional 111 shares in the last quarter. Tidal Investments LLC boosted its position in Corpay by 17.8% in the 4th quarter. Tidal Investments LLC now owns 5,466 shares of the company's stock worth $1,850,000 after purchasing an additional 825 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in Corpay in the 4th quarter worth approximately $426,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Up 1.3%

Shares of CPAY traded up $3.98 during midday trading on Tuesday, hitting $303.90. The company had a trading volume of 130,209 shares, compared to its average volume of 485,390. The company's 50-day simple moving average is $319.27 and its 200-day simple moving average is $325.88. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $21.46 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.14 and a beta of 1.00. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company earned $4.55 EPS. As a group, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Robert W. Baird set a $440.00 price objective on Corpay in a research report on Tuesday, June 10th. Morgan Stanley reduced their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 target price for the company. Raymond James Financial set a $392.00 price objective on Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, UBS Group cut their target price on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $399.43.

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.