Lansforsakringar Fondforvaltning AB publ Decreases Stock Holdings in Corpay, Inc. $CPAY

Key Points

• Lansforsakringar Fondforvaltning AB publ decreased its holdings in Corpay, Inc. by 9.9% during the first quarter, resulting in a total of 20,173 shares worth approximately $7 million.
• Other hedge funds have shown increased activity, with notable raises in stakes, such as Colonial Trust Co SC increasing by 120.5% during the fourth quarter.
• Corpay reported a net margin of 25.17% and a strong growth in revenue, up 12.9% year-over-year, with earnings per share surpassing analysts' expectations.

Lansforsakringar Fondforvaltning AB publ decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,173 shares of the company's stock after selling 2,210 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Corpay were worth $7,035,000 as of its most recent SEC filing.

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

Corpay Trading Up 0.1%

NYSE CPAY opened at $325.64 on Friday. The company's 50-day moving average price is $325.77 and its 200-day moving average price is $332.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The stock has a market cap of $22.99 billion, a PE ratio of 22.12, a PEG ratio of 1.24 and a beta of 0.96. Corpay, Inc. has a 12 month low of $269.02 and a 12 month 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 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion for 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 business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.55 earnings per share. Equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Morgan Stanley decreased their price target 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. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. UBS Group reduced their target price on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price on the stock. Nine research 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 a consensus rating of "Moderate Buy" and a consensus target price of $399.43.

About Corpay

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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