USS Investment Management Ltd Sells 2,880 Shares of Corpay, Inc. (NYSE:CPAY)

USS Investment Management Ltd reduced its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,348 shares of the company's stock after selling 2,880 shares during the quarter. USS Investment Management Ltd's holdings in Corpay were worth $4,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC boosted its position in shares of Corpay by 16.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 204 shares of the company's stock worth $69,000 after purchasing an additional 29 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Corpay by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company's stock worth $2,018,000 after acquiring an additional 30 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company's stock worth $390,000 after acquiring an additional 30 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in shares of Corpay by 3.5% during the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company's stock worth $318,000 after acquiring an additional 32 shares during the last quarter. Finally, Y.D. More Investments Ltd boosted its position in shares of Corpay by 7.7% during the fourth quarter. Y.D. More Investments Ltd now owns 461 shares of the company's stock worth $156,000 after acquiring an additional 33 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CPAY has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. UBS Group dropped their target price on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada upped their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Barclays dropped their target price on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Raymond James restated an "outperform" rating and set a $414.00 target price (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Corpay presently has a consensus rating of "Moderate Buy" and an average target price of $395.07.

Corpay Price Performance

Corpay stock opened at $326.19 on Friday. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a market cap of $22.99 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 1.32 and a beta of 0.98. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The firm's fifty day moving average is $328.10 and its 200 day moving average is $350.38.

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

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.

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