Mediolanum International Funds Ltd Lowers Position in Corpay, Inc. (NYSE:CPAY)

Key Points

• Mediolanum International Funds Ltd has decreased its stake in Corpay, Inc. by 47.6%, now holding 50,207 shares valued at approximately $17.4 million as of the most recent SEC filing.
• Recent analyst reports have led to Corpay's stock rating shifting from a "hold" to a "buy," with an average target price set at $401.07.
• Corpay reported a net margin of 25.15% for the last quarter, with EPS beating analyst estimates by $0.01, reflecting a 7.5% year-over-year revenue increase.

Mediolanum International Funds Ltd decreased its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 47.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,207 shares of the company's stock after selling 45,632 shares during the period. Mediolanum International Funds Ltd owned 0.07% of Corpay worth $17,406,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Cerity Partners LLC increased its holdings in shares of Corpay by 6.2% during the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock worth $11,642,000 after buying an additional 1,942 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in shares of Corpay in the 1st quarter valued at about $213,000. GAMMA Investing LLC grew its holdings in shares of Corpay by 9.9% during the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock worth $560,000 after purchasing an additional 145 shares during the period. Janney Montgomery Scott LLC increased its position in Corpay by 9.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock worth $1,016,000 after purchasing an additional 246 shares in the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Corpay by 15.2% in the first quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock valued at $662,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on CPAY. Wall Street Zen upgraded shares of Corpay from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Oppenheimer started coverage on shares of Corpay in a research report on Monday, April 28th. They set a "market perform" rating for the company. Robert W. Baird set a $440.00 price objective on Corpay in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective on the stock. Finally, Barclays lowered their target price on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $401.07.

Corpay Stock Performance

Corpay stock opened at $335.66 on Friday. Corpay, Inc. has a 52 week low of $265.06 and a 52 week high of $400.81. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69. The stock has a market cap of $23.66 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.27 and a beta of 0.95. The stock has a 50 day moving average of $331.42 and a 200-day moving average of $341.53.

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

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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