Rafferty Asset Management LLC Sells 1,736 Shares of Corpay, Inc. $CPAY

Key Points

• Rafferty Asset Management LLC decreased its stake in Corpay, Inc. by 7.1% after selling 1,736 shares, leaving it with a total of 22,854 shares valued at approximately $7.97 million.
• Corpay recently reported earnings of $5.13 per share, exceeding analyst expectations, with a revenue of $1.10 billion, marking a 12.9% year-over-year increase.
• Analysts have varying price targets for Corpay, with a consensus price target of $399.43 and a majority rating it as a Moderate Buy.

Rafferty Asset Management LLC lessened its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,854 shares of the company's stock after selling 1,736 shares during the period. Rafferty Asset Management LLC's holdings in Corpay were worth $7,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Corpay by 24.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 53,334 shares of the company's stock valued at $18,599,000 after buying an additional 10,533 shares during the last quarter. Long Path Partners LP lifted its position in shares of Corpay by 17.2% during the 1st quarter. Long Path Partners LP now owns 97,527 shares of the company's stock valued at $34,010,000 after buying an additional 14,305 shares during the last quarter. Soros Capital Management LLC purchased a new position in shares of Corpay during the 1st quarter valued at $10,374,000. Taikang Asset Management Hong Kong Co Ltd raised its stake in shares of Corpay by 330.7% during the 1st quarter. Taikang Asset Management Hong Kong Co Ltd now owns 24,119 shares of the company's stock valued at $8,411,000 after purchasing an additional 18,519 shares during the period. Finally, Quantitative Investment Management LLC raised its stake in shares of Corpay by 26.2% during the 1st quarter. Quantitative Investment Management LLC now owns 1,200 shares of the company's stock valued at $418,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Price Performance

Shares of Corpay stock opened at $317.62 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $22.43 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.00. The business's 50-day moving average price is $325.60 and its 200-day moving average price is $331.42. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating the consensus estimate of $5.11 by $0.02. The firm 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%.The company's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $4.55 EPS. Sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on CPAY. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective on the stock. 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. Wall Street Zen lowered Corpay from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. UBS Group decreased 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. Finally, Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.