Eagle Rock Investment Company LLC Sells 2,469 Shares of Corpay, Inc. (NYSE:CPAY)

Eagle Rock Investment Company LLC lessened its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 21.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,055 shares of the company's stock after selling 2,469 shares during the quarter. Eagle Rock Investment Company LLC's holdings in Corpay were worth $3,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Corpay by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock valued at $2,623,702,000 after acquiring an additional 120,688 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after acquiring an additional 1,000,699 shares during the period. JPMorgan Chase & Co. grew its stake in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock valued at $1,653,659,000 after acquiring an additional 120,578 shares during the period. Boston Partners boosted its position in shares of Corpay by 6.4% during the fourth quarter. Boston Partners now owns 2,045,398 shares of the company's stock worth $694,847,000 after buying an additional 122,380 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Corpay by 1.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock worth $659,890,000 after buying an additional 20,937 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPAY has been the subject of several recent research reports. Raymond James reaffirmed an "outperform" rating and set a $414.00 price objective (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Oppenheimer initiated coverage on Corpay in a research report on Monday, April 28th. They set a "market perform" rating for the company. Barclays reduced their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company reduced their price objective 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. Finally, UBS Group reduced their price objective on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $395.07.

Corpay Stock Up 2.1%

CPAY stock opened at $337.88 on Friday. 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 business has a 50 day moving average price of $322.77 and a two-hundred day moving average price of $347.86. The company has a market cap of $23.82 billion, a price-to-earnings ratio of 24.17, a P/E/G 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 released its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the firm posted $4.10 earnings per share. The business's revenue was up 7.5% on a year-over-year basis. Analysts anticipate that Corpay, Inc. will post 19.76 EPS 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.

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