Corpay, Inc. (NYSE:CPAY) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC has decreased its stake in Corpay, Inc. by 15.5%, now holding 5,582 shares valued at approximately $1.95 million.
• Corpay reported earnings of $5.13 per share for the last quarter, exceeding analyst expectations and marking a 12.9% increase in revenue year-over-year.
• Wall Street analysts have rated Corpay with an average recommendation of "Moderate Buy", with a target price around $396.33.

Mizuho Securities USA LLC trimmed its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,582 shares of the company's stock after selling 1,025 shares during the quarter. Mizuho Securities USA LLC's holdings in Corpay were worth $1,947,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC boosted its position in Corpay by 6.2% in the first quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock valued at $11,642,000 after buying an additional 1,942 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in Corpay in the first quarter valued at $213,000. GAMMA Investing LLC increased its position in shares of Corpay by 9.9% during the first quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock worth $560,000 after acquiring an additional 145 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Corpay by 9.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock valued at $1,016,000 after acquiring an additional 246 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in Corpay by 15.2% in the 1st quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock worth $662,000 after buying an additional 250 shares during the period. 98.84% of the stock is owned by institutional investors.

Corpay Stock Performance

Shares of CPAY traded down $2.70 during mid-day trading on Friday, reaching $317.53. 543,137 shares of the company's stock were exchanged, compared to its average volume of 580,295. The business's fifty day simple moving average is $327.66 and its 200-day simple moving average is $336.37. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $22.42 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.21 and a beta of 0.96.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CPAY. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the company an "outperform" rating in a research report on Thursday, August 7th. Wells Fargo & Company decreased their price objective on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. 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 research note on Thursday, August 7th. Robert W. Baird set a $440.00 price objective on shares of Corpay in a report on Tuesday, June 10th. Finally, Wall Street Zen cut shares of Corpay from a "buy" rating to a "hold" rating in a report on Saturday. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Corpay currently has a consensus rating of "Moderate Buy" and an average target price of $396.33.

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.