Goldman Sachs Group Inc. Has $154.53 Million Position in Corpay, Inc. $CPAY

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Corpay, Inc. by 21.7%, now owning 443,134 shares valued at approximately $154.53 million following the sale of 122,735 shares.
• Corpay's stock has a consensus rating of “Moderate Buy”, with an average target price of $399.43, indicating analysts' confidence in its future performance.
• In its latest quarterly earnings, Corpay reported an EPS of $5.13, exceeding estimates by $0.02, and achieved a year-over-year revenue increase of 12.9%.

Goldman Sachs Group Inc. trimmed its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 21.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,134 shares of the company's stock after selling 122,735 shares during the quarter. Goldman Sachs Group Inc. owned 0.63% of Corpay worth $154,530,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CPAY. Meeder Advisory Services Inc. grew its holdings in Corpay by 5.0% in the first quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock worth $236,000 after purchasing an additional 32 shares during the period. Townsquare Capital LLC boosted its stake in Corpay by 0.7% during the first quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock valued at $1,576,000 after buying an additional 32 shares during the period. Fulton Bank N.A. increased its position in shares of Corpay by 2.1% during the 1st quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock valued at $581,000 after purchasing an additional 34 shares during the last quarter. Wedmont Private Capital boosted its holdings in Corpay by 3.2% during the 1st quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock valued at $387,000 after acquiring an additional 34 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Corpay by 0.3% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,666 shares of the company's stock worth $4,417,000 after buying an additional 35 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Up 1.3%

Shares of NYSE:CPAY traded up $4.05 during midday trading on Wednesday, reaching $310.34. The company had a trading volume of 54,075 shares, compared to its average volume of 481,648. The stock has a market capitalization of $21.91 billion, a P/E ratio of 21.10, a PEG ratio of 1.15 and a beta of 1.00. The stock's fifty day moving average price is $321.29 and its 200-day moving average price is $327.31. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. Corpay, Inc. has a one year low of $269.02 and a one year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business posted $4.55 EPS. Corpay's revenue was up 12.9% on a year-over-year basis. Equities research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CPAY shares. Wall Street Zen upgraded shares of Corpay from a "hold" rating to a "buy" rating in a report on Friday, September 5th. UBS Group cut their price objective on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Robert W. Baird set a $440.00 price objective on Corpay in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective for the company. Finally, Morgan Stanley lowered their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $399.43.

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.