Voya Investment Management LLC Sells 1,225 Shares of Corpay, Inc. $CPAY

Key Points

• Voya Investment Management LLC reduced its stake in Corpay, Inc. by 3.0% in the first quarter, ending with 40,204 shares valued at $14,020,000.
• Corpay, Inc. received varied analyst ratings, with targets ranging from $356.00 to $440.00 and a consensus rating of "Moderate Buy."
• For the latest quarter, Corpay reported earnings of $5.13 EPS, surpassing analysts' expectations and showing a year-over-year revenue increase of 12.9%.

Voya Investment Management LLC decreased its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,204 shares of the company's stock after selling 1,225 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Corpay worth $14,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Corpay by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company's stock worth $2,745,398,000 after buying an additional 119,987 shares during the last quarter. JPMorgan Chase & Co. raised its position in Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock worth $1,648,970,000 after buying an additional 472,147 shares during the last quarter. Boston Partners raised its position in Corpay by 5.8% during the 1st quarter. Boston Partners now owns 2,163,940 shares of the company's stock worth $751,371,000 after buying an additional 118,542 shares during the last quarter. Invesco Ltd. raised its position in Corpay by 12.3% during the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company's stock worth $660,731,000 after buying an additional 208,067 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Corpay by 30.7% during the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company's stock worth $444,639,000 after buying an additional 299,452 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Robert W. Baird set a $440.00 price target on shares of Corpay in a research note on Tuesday, June 10th. Morgan Stanley decreased their price target on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price on the stock. Wall Street Zen cut shares of Corpay from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Raymond James Financial set a $392.00 price target on shares of Corpay and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Corpay presently has an average rating of "Moderate Buy" and an average price target of $399.43.

Corpay Trading Down 1.1%

CPAY traded down $3.49 during midday trading on Friday, reaching $301.78. 998,948 shares of the company were exchanged, compared to its average volume of 355,870. 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, Inc. has a one year low of $269.02 and a one year high of $400.81. The stock has a market capitalization of $21.31 billion, a P/E ratio of 20.50, a PEG ratio of 1.16 and a beta of 1.00. The stock's 50-day simple moving average is $319.80 and its 200 day simple moving average is $326.46.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.02. The company 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%.Corpay's revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.55 earnings per share. As a group, analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.