Verdence Capital Advisors LLC Sells 2,948 Shares of Corpay, Inc. (NYSE:CPAY)

Verdence Capital Advisors LLC trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,753 shares of the company's stock after selling 2,948 shares during the period. Verdence Capital Advisors LLC's holdings in Corpay were worth $5,842,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Corpay by 70.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock worth $45,000 after buying an additional 55 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Corpay by 12.2% in the 4th quarter. Natixis Advisors LLC now owns 30,815 shares of the company's stock worth $10,428,000 after buying an additional 3,362 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Corpay by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,768 shares of the company's stock worth $1,614,000 after buying an additional 110 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Corpay in the 4th quarter worth $867,000. Finally, Vinva Investment Management Ltd boosted its stake in shares of Corpay by 14.3% in the 4th quarter. Vinva Investment Management Ltd now owns 4,912 shares of the company's stock worth $1,658,000 after buying an additional 614 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Price Performance

NYSE:CPAY traded down $3.00 on Friday, reaching $332.10. 431,368 shares of the company's stock traded hands, compared to its average volume of 473,983. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69. The stock has a 50-day simple moving average of $332.79 and a 200-day simple moving average of $341.79. The firm has a market cap of $23.41 billion, a PE ratio of 23.29, a P/E/G ratio of 1.37 and a beta of 0.95. Corpay, Inc. has a 12 month low of $265.06 and a 12 month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $4.10 earnings per share. Equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a research note on Thursday. They issued a "buy" rating and a $390.00 price target on the stock. Wells Fargo & Company decreased their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Barclays decreased their target price on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday, June 10th. Finally, Wall Street Zen cut Corpay from a "buy" rating to a "hold" rating in a report on Tuesday, July 8th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Corpay currently has an average rating of "Moderate Buy" and an average price target of $401.07.

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.