Corpay, Inc. (NYSE:CPAY) Shares Sold by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. decreased its position in Corpay, Inc. (NYSE:CPAY) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,107 shares of the company’s stock after selling 90 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Corpay were worth $1,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Corpay by 17.3% during the fourth 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. Proficio Capital Partners LLC purchased a new position in Corpay in the 4th quarter worth about $28,632,000. Aviso Financial Inc. purchased a new position in Corpay in the 4th quarter worth about $151,000. Sanctuary Advisors LLC boosted its position in Corpay by 20.5% during the 4th quarter. Sanctuary Advisors LLC now owns 1,796 shares of the company’s stock worth $608,000 after acquiring an additional 305 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after acquiring an additional 120,578 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CPAY shares. Wells Fargo & Company reduced their target price on Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Raymond James reaffirmed an “outperform” rating and issued a $414.00 price target (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Oppenheimer began coverage on Corpay in a research note on Monday, April 28th. They set a “market perform” rating for the company. Barclays reduced their price target on Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Finally, UBS Group cut their price objective on Corpay from $400.00 to $365.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $395.07.

Corpay Price Performance

CPAY opened at $337.88 on Friday. The stock has a market capitalization of $23.82 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. The stock’s 50 day moving average price is $322.77 and its 200-day moving average price is $347.86. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. 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 earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share 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 for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $4.10 earnings per share. Corpay’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts predict 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.