Moran Wealth Management LLC cut its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 29.1% in the 1st quarter, according to 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 quarter. Moran Wealth Management LLC's holdings in Corpay were worth $3,612,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its position in shares of Corpay by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 1,796 shares of the company's stock valued at $608,000 after buying an additional 305 shares during the period. Truist Financial Corp grew its holdings in shares of Corpay by 15.9% during the 4th quarter. Truist Financial Corp now owns 8,389 shares of the company's stock worth $2,839,000 after acquiring an additional 1,151 shares during the period. D.A. Davidson & CO. bought a new position in shares of Corpay in the 4th quarter worth approximately $350,000. Atria Wealth Solutions Inc. bought a new position in shares of Corpay in the 4th quarter worth approximately $228,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Corpay by 38.5% in the 4th quarter. Global Retirement Partners LLC now owns 169 shares of the company's stock valued at $57,000 after purchasing an additional 47 shares during the period. 98.84% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on CPAY shares. Robert W. Baird set a $440.00 price objective on Corpay in a report on Tuesday, June 10th. Barclays decreased their price target on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Wall Street Zen lowered shares of Corpay from a "buy" rating to a "hold" rating in a research note on Sunday. Oppenheimer started coverage on shares of Corpay in a research note on Monday, April 28th. They set a "market perform" rating for the company. Finally, Wells Fargo & Company dropped their price target on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $401.86.
Read Our Latest Report on CPAY
Corpay Stock Down 0.8%
Corpay stock opened at $326.69 on Thursday. Corpay, Inc. has a 12 month low of $264.08 and a 12 month high of $400.81. The stock has a fifty day simple moving average of $328.89 and a two-hundred day simple moving average of $343.77. 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 firm has a market cap of $23.03 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 1.39 and a beta of 0.96.
Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping the consensus estimate of $4.50 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. Corpay's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the company earned $4.10 EPS. Equities analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.
About Corpay
(
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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