Corpay, Inc. $CPAY Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC significantly reduced its holdings in Corpay, Inc. by 99.4% in Q1, now owning only 638 shares valued at $222,000.
• Vanguard Group and JPMorgan Chase raised their stakes in Corpay, indicating strong institutional interest, with institutional investors owning 98.84% of the stock.
• Corpay reported a quarterly earnings EPS of $5.13, surpassing expectations, with a year-over-year revenue increase of 12.9% to $1.10 billion.

Kayne Anderson Rudnick Investment Management LLC lessened its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 99.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 638 shares of the company's stock after selling 98,669 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Corpay were worth $222,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Colonial Trust Co SC lifted its stake in Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after purchasing an additional 53 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Corpay during the first quarter worth $41,000. Rakuten Securities Inc. bought a new position in shares of Corpay in the 1st quarter worth about $45,000. Larson Financial Group LLC boosted its holdings in shares of 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 buying an additional 130 shares during the period. Finally, Continuum Advisory LLC grew its position in shares of Corpay by 29.6% during the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Performance

Shares of NYSE:CPAY traded down $8.05 on Tuesday, hitting $317.62. The company's stock had a trading volume of 288,664 shares, compared to its average volume of 494,209. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.00. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. 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 $325.60 and its two-hundred day moving average is $331.42.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.55 earnings per share. On average, equities research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target on the stock. Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Raymond James Financial set a $392.00 target price on Corpay and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley reduced their price target on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Corpay has a consensus rating of "Moderate Buy" and a consensus 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.