Orbis Allan Gray Ltd Sells 209,615 Shares of Corpay, Inc. $CPAY

Key Points

• Orbis Allan Gray Ltd reduced its stake in Corpay, Inc. by 5.3%, selling 209,615 shares and holding approximately 3.73 million shares, which accounts for 7.4% of its total holdings.
• Corpay's recent earnings report showed a 12.9% increase in revenue year-over-year, with an EPS of $5.13, slightly above analysts' expectations.
• The stock has received mixed ratings from analysts, with a consensus target price of $399.43 and nine analysts rating it as a "Buy" while five assigned a "Hold" rating.

Orbis Allan Gray Ltd lessened its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 5.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,731,221 shares of the company's stock after selling 209,615 shares during the period. Corpay makes up approximately 7.4% of Orbis Allan Gray Ltd's holdings, making the stock its 2nd largest position. Orbis Allan Gray Ltd owned 5.31% of Corpay worth $1,301,151,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Colonial Trust Co SC raised its holdings in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after acquiring an additional 53 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Corpay in the 1st quarter valued at approximately $41,000. Rakuten Securities Inc. acquired a new position in Corpay in the 1st quarter valued at approximately $45,000. Larson Financial Group LLC raised its holdings in Corpay by 309.5% in the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after acquiring an additional 130 shares in the last quarter. Finally, Continuum Advisory LLC raised its holdings in Corpay by 29.6% in the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after acquiring an additional 42 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Price Performance

NYSE CPAY traded down $2.18 during trading hours on Thursday, reaching $317.19. 76,568 shares of the company's stock were exchanged, compared to its average volume of 487,032. The stock has a market cap of $22.40 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 1.24 and a beta of 1.00. Corpay, Inc. has a one year low of $269.02 and a one year high of $400.81. The firm has a fifty day moving average of $325.44 and a 200-day moving average of $331.34. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS 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 analyst estimates of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.Corpay's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $4.55 EPS. On average, equities research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CPAY has been the subject of several recent research reports. 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. Raymond James Financial set a $392.00 price objective on Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective on the stock. Finally, UBS Group lowered their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $399.43.

Corpay Company Profile

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.