Hsbc Holdings PLC Trims Stock Position in Corpay, Inc. $CPAY

Key Points

• Hsbc Holdings PLC reduced its stake in Corpay, Inc. by 2.3%, owning 137,988 shares valued at approximately $47.86 million following a sale of 3,272 shares in Q1.
• Corpay reported $5.13 earnings per share for the last quarter, surpassing analysts' expectations of $5.11, with a year-over-year revenue increase of 12.9%.
• Analysts have mixed sentiments on Corpay, with nine issuing buy ratings and five holding ratings, while consensus target prices average around $399.43.

Hsbc Holdings PLC lessened its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 137,988 shares of the company's stock after selling 3,272 shares during the quarter. Hsbc Holdings PLC owned about 0.20% of Corpay worth $47,862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Colonial Trust Co SC raised its position in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after purchasing an additional 53 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Corpay in the 1st quarter valued at $41,000. Rakuten Securities Inc. purchased a new stake in Corpay in the 1st quarter valued at $45,000. Larson Financial Group LLC raised its position in Corpay by 309.5% in the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Finally, Continuum Advisory LLC raised its position in Corpay by 29.6% in the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

Shares of CPAY opened at $317.43 on Friday. 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 stock has a market capitalization of $22.41 billion, a P/E ratio of 21.56, a P/E/G ratio of 1.20 and a beta of 0.96. The company's fifty day moving average is $325.23 and its two-hundred day moving average is $334.60. 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 posted its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping 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 business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the prior year, the company posted $4.55 EPS. The business's revenue for the quarter was up 12.9% on a year-over-year basis. On average, sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on CPAY shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a research report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target for the company. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the company an "outperform" rating in a research report on Thursday, August 7th. Oppenheimer began coverage on shares of Corpay in a research report on Monday, April 28th. They issued a "market perform" rating for the company. Wall Street Zen cut shares of Corpay from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Morgan Stanley dropped their price objective on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.

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