Prana Capital Management LP Sells 77,122 Shares of Corpay, Inc. (NYSE:CPAY)

Prana Capital Management LP lowered its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 76.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,725 shares of the company's stock after selling 77,122 shares during the quarter. Prana Capital Management LP's holdings in Corpay were worth $8,029,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Corpay by 17.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock valued at $8,067,000 after purchasing an additional 3,504 shares during the period. Crossmark Global Holdings Inc. raised its stake in Corpay by 70.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company's stock worth $1,689,000 after buying an additional 2,059 shares during the period. Radnor Capital Management LLC acquired a new stake in Corpay during the 4th quarter worth $3,667,000. Nisa Investment Advisors LLC raised its stake in Corpay by 68.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company's stock worth $1,342,000 after buying an additional 1,611 shares during the period. Finally, Journey Strategic Wealth LLC acquired a new stake in Corpay during the 4th quarter worth $499,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Analyst Upgrades and Downgrades

CPAY has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. UBS Group dropped their price objective on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and set a $414.00 price objective (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Finally, Morgan Stanley raised their price objective on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $395.07.

Corpay Stock Up 0.4%

Shares of CPAY traded up $1.43 during midday trading on Friday, hitting $348.64. The stock had a trading volume of 436,922 shares, compared to its average volume of 481,264. The company has a 50 day simple moving average of $328.21 and a two-hundred day simple moving average of $350.35. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. 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 (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.02 billion. Corpay had a return on equity of 41.46% and a net margin of 25.25%. Corpay's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.10 EPS. On average, analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current 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.