Moran Wealth Management LLC trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 29.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,358 shares of the company's stock after selling 4,261 shares during the period. Moran Wealth Management LLC's holdings in Corpay were worth $3,612,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Corpay by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock worth $2,623,702,000 after buying an additional 120,688 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after buying an additional 1,000,699 shares in the last quarter. Boston Partners increased its stake in Corpay by 6.4% in the 4th quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after purchasing an additional 122,380 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Corpay by 1.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after purchasing an additional 20,937 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Corpay by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company's stock valued at $584,962,000 after purchasing an additional 54,894 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently weighed in on CPAY. Barclays dropped their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. UBS Group dropped their price objective on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Oppenheimer began coverage on Corpay in a research note on Monday, April 28th. They issued a "market perform" rating for the company. Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $414.00 price objective (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $401.86.
View Our Latest Stock Analysis on CPAY
Corpay Trading Up 0.4%
Shares of CPAY stock traded up $1.32 during mid-day trading on Friday, hitting $327.36. 473,382 shares of the company's stock were exchanged, compared to its average volume of 476,915. Corpay, Inc. has a fifty-two week low of $264.08 and a fifty-two week high of $400.81. The stock has a 50-day simple moving average of $329.64 and a two-hundred day simple moving average of $343.05. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69. The stock has a market cap of $23.08 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 1.37 and a beta of 0.96.
Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.50 by $0.01. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter last year, the firm earned $4.10 earnings per share. The business's revenue was up 7.5% on a year-over-year basis. Equities analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.
Corpay Profile
(
Free Report)
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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