KBC Group NV Sells 3,295 Shares of Corpay, Inc. (NYSE:CPAY)

KBC Group NV lowered its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 22.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,098 shares of the company's stock after selling 3,295 shares during the period. KBC Group NV's holdings in Corpay were worth $3,870,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CPAY. Metis Global Partners LLC increased its holdings in Corpay by 3.4% in the fourth quarter. Metis Global Partners LLC now owns 2,277 shares of the company's stock valued at $771,000 after purchasing an additional 74 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Corpay by 33.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 438 shares of the company's stock valued at $148,000 after buying an additional 109 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Corpay by 28.6% in the 4th quarter. Jones Financial Companies Lllp now owns 809 shares of the company's stock valued at $274,000 after buying an additional 180 shares during the last quarter. Schechter Investment Advisors LLC increased its stake in shares of Corpay by 5.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 2,040 shares of the company's stock valued at $690,000 after buying an additional 112 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Corpay by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company's stock worth $160,904,000 after acquiring an additional 16,981 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Stock Up 0.6%

Shares of NYSE CPAY traded up $2.00 during trading on Friday, hitting $339.10. 409,806 shares of the company traded hands, compared to its average volume of 477,768. The firm has a market capitalization of $23.90 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.43 and a beta of 0.95. The business's fifty day moving average is $332.04 and its 200 day moving average is $342.60. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. Corpay, Inc. has a fifty-two week low of $265.06 and a fifty-two week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping analysts' consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.10 EPS. Equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays reduced their target price on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Oppenheimer started coverage on shares of Corpay in a research report on Monday, April 28th. They issued a "market perform" rating on the stock. Robert W. Baird set a $440.00 price objective on shares of Corpay in a research note on Tuesday, June 10th. UBS Group decreased their price objective on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a research note on Monday. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Corpay has an average rating of "Moderate Buy" and an average target price of $401.86.

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.