Strategic Wealth Partners Ltd. Trims Position in Corpay, Inc. (NYSE:CPAY)

Strategic Wealth Partners Ltd. decreased its stake in shares of Corpay, Inc. (NYSE:CPAY) by 8.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,055 shares of the company’s stock after selling 1,382 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Corpay were worth $5,546,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CPAY. Invesco Ltd. increased its position in shares of Corpay by 163.7% during the fourth quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock worth $570,801,000 after acquiring an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock worth $1,976,651,000 after purchasing an additional 1,000,699 shares in the last quarter. Norges Bank purchased a new position in Corpay during the 4th quarter worth $241,739,000. Raymond James Financial Inc. bought a new stake in Corpay during the 4th quarter valued at $134,950,000. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of Corpay in the 4th quarter worth $116,179,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPAY. Keefe, Bruyette & Woods raised their price target on Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. UBS Group cut their target price on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company lowered their price target on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada lifted their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Finally, Oppenheimer began coverage on shares of Corpay in a research note on Monday, April 28th. They issued a “market perform” rating for the company. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Corpay has an average rating of “Moderate Buy” and a consensus target price of $395.07.

Corpay Stock Up 0.4%

Corpay stock opened at $348.64 on Friday. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81. The business has a fifty day moving average price of $328.21 and a 200-day moving average price of $350.35. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The stock has a market capitalization of $24.49 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.32 and a beta of 0.98.

Corpay (NYSE:CPAY) last released 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. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business posted $4.10 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. Equities research 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.