Livforsakringsbolaget Skandia Omsesidigt Sells 2,570 Shares of Corpay, Inc. $CPAY

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Corpay, Inc. by 9.8%, selling 2,570 shares and leaving it with 23,630 shares valued at approximately $7.84 million.
• Corpay reported $5.13 earnings per share for the last quarter, exceeding analyst expectations of $5.11, and a 12.9% increase in revenue compared to the same quarter last year.
• Analysts have set a consensus price target for Corpay at $399.43, with nine analysts recommending a Buy rating for the stock.

Livforsakringsbolaget Skandia Omsesidigt cut its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 9.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,630 shares of the company's stock after selling 2,570 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Corpay were worth $7,841,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Meeder Advisory Services Inc. lifted its holdings in Corpay by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock worth $236,000 after purchasing an additional 32 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of Corpay by 0.7% in the first quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock valued at $1,576,000 after purchasing an additional 32 shares during the period. Fulton Bank N.A. grew its holdings in Corpay by 2.1% during the first quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock worth $581,000 after acquiring an additional 34 shares during the period. Wedmont Private Capital grew its holdings in Corpay by 3.2% during the first quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock worth $387,000 after acquiring an additional 34 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Corpay by 0.3% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,666 shares of the company's stock worth $4,417,000 after acquiring an additional 35 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

NYSE CPAY opened at $305.62 on Tuesday. The stock has a market capitalization of $21.58 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.16 and a beta of 1.00. 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 business's 50 day moving average is $321.82 and its two-hundred day moving average is $327.46. 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 released 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. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.55 EPS. Research analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Analysts Set New Price Targets

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.