Strategic Wealth Partners Ltd. Reduces Stock Position in Corpay, Inc. (NYSE:CPAY)

Strategic Wealth Partners Ltd. lowered its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,055 shares of the company's stock after selling 1,382 shares during the quarter. Strategic Wealth Partners Ltd.'s holdings in Corpay were worth $5,546,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Corpay by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock valued at $2,623,702,000 after purchasing an additional 120,688 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock valued at $1,653,659,000 after buying an additional 120,578 shares in the last quarter. Boston Partners grew its position in shares of 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 buying an additional 122,380 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of 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 buying an additional 20,937 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CPAY. UBS Group decreased their price objective on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Barclays decreased their target price on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Raymond James restated an "outperform" rating and set a $414.00 price target (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Keefe, Bruyette & Woods boosted their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Morgan Stanley increased their price objective on Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $395.07.

Corpay Stock Performance

Shares of CPAY stock traded down $2.27 during mid-day trading on Friday, hitting $323.86. The stock had a trading volume of 91,470 shares, compared to its average volume of 484,844. The firm has a market cap of $22.83 billion, a PE ratio of 23.17, a PEG ratio of 1.32 and a beta of 0.98. The company's 50-day simple moving average is $328.10 and its 200-day simple moving average is $350.38. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm earned $4.10 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. Sell-side analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

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.