Ethic Inc. Lowers Holdings in Corpay, Inc. (NYSE:CPAY)

Ethic Inc. reduced its position in Corpay, Inc. (NYSE:CPAY) by 6.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,195 shares of the company’s stock after selling 207 shares during the quarter. Ethic Inc.’s holdings in Corpay were worth $1,081,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Corpay by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock worth $2,623,702,000 after acquiring an additional 120,688 shares during the period. Price T Rowe Associates Inc. MD raised its stake 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 in the last quarter. JPMorgan Chase & Co. lifted 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 during the period. Boston Partners boosted its stake in shares of Corpay by 6.4% in the fourth 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 in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in Corpay by 1.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company’s stock worth $659,890,000 after acquiring an additional 20,937 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Corpay stock opened at $354.14 on Wednesday. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The company has a market capitalization of $24.88 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.32 and a beta of 0.98. The stock has a fifty day moving average of $326.92 and a two-hundred day moving average of $350.03. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. The firm 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%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.10 EPS. On average, analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Oppenheimer started coverage on shares of Corpay in a research report on Monday, April 28th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company lowered their target price on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Morgan Stanley lifted their price target on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group lowered their price target on Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Five equities 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 stock. According to data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and an average price target of $395.07.

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.