HighTower Advisors LLC Decreases Stock Position in Corpay, Inc. $CPAY

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HighTower Advisors LLC cut its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 4.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,832 shares of the company's stock after selling 939 shares during the quarter. HighTower Advisors LLC's holdings in Corpay were worth $6,567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPAY. Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $1,976,651,000 after purchasing an additional 1,000,699 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 558,236 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Corpay by 4,811.9% in the first quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock worth $194,326,000 after purchasing an additional 545,907 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Corpay by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock worth $1,648,970,000 after purchasing an additional 472,147 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of Corpay in the fourth quarter worth about $116,179,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Down 0.2%

Shares of CPAY opened at $316.90 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The stock's 50 day moving average is $327.14 and its two-hundred day moving average is $335.26. The firm has a market cap of $22.38 billion, a P/E ratio of 21.53, a PEG ratio of 1.20 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CPAY. Oppenheimer began coverage on Corpay in a research note on Monday, April 28th. They issued a "market perform" rating for the company. Wall Street Zen cut Corpay from a "buy" rating to a "hold" rating in a research note on Saturday. Raymond James Financial set a $392.00 price objective on Corpay and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday, June 10th. Finally, Morgan Stanley reduced their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $396.33.

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.

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