Jump Financial LLC Sells 2,393 Shares of Corpay, Inc. $CPAY

Key Points

• Jump Financial LLC reduced its holdings in Corpay, Inc. by 50.4%, now owning 2,356 shares valued at $822,000 after selling 2,393 shares in the first quarter.
• Several institutional investors have increased their stakes in Corpay, with APG Asset Management N.V. growing its share by 25.8% to own 46,779 shares worth $15.1 million.
• Analysts have mixed ratings for Corpay, with a consensus price target of $399.43 and ratings ranging from "buy" to "hold" across nine analysts.

Jump Financial LLC trimmed its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 50.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,356 shares of the company's stock after selling 2,393 shares during the period. Jump Financial LLC's holdings in Corpay were worth $822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Corpay by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company's stock valued at $2,745,398,000 after acquiring an additional 119,987 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Corpay by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock valued at $1,648,970,000 after purchasing an additional 472,147 shares during the last quarter. Boston Partners grew its holdings in Corpay by 5.8% during the first quarter. Boston Partners now owns 2,163,940 shares of the company's stock valued at $751,371,000 after purchasing an additional 118,542 shares during the last quarter. Invesco Ltd. grew its holdings in Corpay by 12.3% during the first quarter. Invesco Ltd. now owns 1,894,732 shares of the company's stock valued at $660,731,000 after purchasing an additional 208,067 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Corpay by 30.7% during the first quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company's stock valued at $444,639,000 after purchasing an additional 299,452 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CPAY. Robert W. Baird set a $440.00 target price on shares of Corpay in a research report on Tuesday, June 10th. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the stock an "outperform" rating in a research report on Thursday, August 7th. UBS Group cut their target price on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Corpay from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Morgan Stanley cut their target price on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report 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, Corpay presently has a consensus rating of "Moderate Buy" and an average target price of $399.43.

Corpay Price Performance

CPAY traded down $2.33 during midday trading on Friday, reaching $317.62. 58,241 shares of the company's stock were exchanged, compared to its average volume of 485,606. The firm has a market capitalization of $22.43 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a one year low of $269.02 and a one year high of $400.81. The business has a 50-day simple moving average of $325.31 and a two-hundred day simple moving average of $330.94.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.55 earnings per share. As a group, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

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.