Envestnet Asset Management Inc. Lowers Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Envestnet Asset Management Inc. lowered its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,204 shares of the company's stock after selling 2,468 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of Corpay worth $26,225,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of Corpay by 163.7% during the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock valued at $570,801,000 after purchasing an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD grew its position in Corpay by 20.7% during 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 buying an additional 1,000,699 shares during the period. Norges Bank bought a new stake in shares of Corpay during the 4th quarter valued at $241,739,000. GAMMA Investing LLC increased its position in Corpay by 38,235.3% in the first quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock worth $195,177,000 after buying an additional 558,236 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Corpay by 4,811.9% during the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock valued at $194,326,000 after buying an additional 545,907 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

CPAY has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Robert W. Baird set a $440.00 price target on shares of Corpay in a research report on Tuesday, June 10th. Oppenheimer initiated coverage on shares of Corpay in a research report on Monday, April 28th. They set a "market perform" rating on the stock. Wall Street Zen downgraded shares of Corpay from a "buy" rating to a "hold" rating in a report on Tuesday, July 8th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $414.00 price target (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Corpay presently has an average rating of "Moderate Buy" and an average target price of $401.07.

Corpay Trading Up 2.6%

Shares of NYSE:CPAY traded up $8.50 during trading on Thursday, hitting $335.56. The company had a trading volume of 507,210 shares, compared to its average volume of 473,440. The stock has a market cap of $23.65 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.10 and a quick ratio of 1.10. The company has a fifty day simple moving average of $332.62 and a two-hundred day simple moving average of $341.80. Corpay, Inc. has a one year low of $265.06 and a one year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. Corpay's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.10 EPS. As a group, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Corpay Company 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.