Corpay, Inc. $CPAY Stock Position Decreased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. has reduced its stake in Corpay, Inc. by 8.8%, selling 515,763 shares and now owning approximately 7.58% of the company, valued at nearly $1.86 billion.
• Corpay reported $5.13 EPS for its most recent quarter, exceeding analysts' estimates, with year-over-year revenue growth of 12.9%.
• Analysts have varying ratings for Corpay, with a consensus price target of $399.43, indicating a Moderate Buy rating, while several institutions recently adjusted their target prices.

Price T Rowe Associates Inc. MD lessened its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,325,055 shares of the company's stock after selling 515,763 shares during the period. Price T Rowe Associates Inc. MD owned 7.58% of Corpay worth $1,856,954,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in Corpay by 6.2% in the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock worth $11,642,000 after purchasing an additional 1,942 shares in the last quarter. DAVENPORT & Co LLC purchased a new stake in shares of Corpay during the 1st quarter valued at about $213,000. GAMMA Investing LLC increased its position in shares of Corpay by 9.9% during the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock valued at $560,000 after purchasing an additional 145 shares during the last quarter. Janney Montgomery Scott LLC increased 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 purchasing an additional 246 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Corpay by 15.2% during the 1st quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock valued at $662,000 after acquiring an additional 250 shares during the period. Institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

Corpay stock traded up $2.29 during mid-day trading on Tuesday, reaching $324.82. 84,041 shares of the company were exchanged, compared to its average volume of 493,837. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The firm has a market cap of $22.94 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.26 and a beta of 0.96. The firm's 50-day simple moving average is $325.19 and its two-hundred day simple moving average is $333.13. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business's revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.55 earnings per share. Equities analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CPAY has been the subject of a number of recent research reports. Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Wall Street Zen lowered Corpay from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. UBS Group reduced their target price on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Morgan Stanley dropped their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. Finally, Raymond James Financial set a $392.00 price objective on Corpay and gave the company an "outperform" rating in a research report on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Corpay presently has a consensus rating of "Moderate Buy" and an average target price of $399.43.

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.