Financial Management Professionals Inc. Cuts Stock Position in Corpay, Inc. $CPAY

Financial Management Professionals Inc. lessened its stake in Corpay, Inc. (NYSE:CPAY) by 55.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 170 shares of the company’s stock after selling 208 shares during the quarter. Financial Management Professionals Inc.’s holdings in Corpay were worth $56,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Select Equity Group L.P. grew its stake in shares of Corpay by 1,302.3% during the first quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company’s stock worth $425,054,000 after acquiring an additional 1,131,975 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Corpay by 38,235.3% during the first quarter. GAMMA Investing LLC now owns 559,696 shares of the company’s stock worth $195,177,000 after acquiring an additional 558,236 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Corpay by 4,811.9% during the first quarter. Bessemer Group Inc. now owns 557,252 shares of the company’s stock worth $194,326,000 after acquiring an additional 545,907 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Corpay by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock worth $1,648,970,000 after acquiring an additional 472,147 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Corpay in the first quarter valued at approximately $104,428,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Down 0.8%

Corpay stock opened at $295.62 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The stock’s 50 day simple moving average is $318.22 and its two-hundred day simple moving average is $325.48. The firm has a market cap of $20.87 billion, a PE ratio of 20.08, a P/E/G ratio of 1.13 and a beta of 1.00.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping the consensus estimate of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm posted $4.55 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. Analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group dropped their target price on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a research report on Thursday, July 17th. They issued a “buy” rating and a $390.00 target price on the stock. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Morgan Stanley dropped their target price on Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. Finally, Raymond James Financial set a $392.00 target price on Corpay and gave the company an “outperform” rating in a research report on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and an average target price of $399.43.

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.