First American Bank Lowers Stock Position in Corpay, Inc. $CPAY

First American Bank lessened its holdings in Corpay, Inc. (NYSE:CPAY) by 13.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 715 shares of the company’s stock after selling 115 shares during the period. First American Bank’s holdings in Corpay were worth $237,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CPAY. Two Sigma Investments LP purchased a new stake in shares of Corpay in the 4th quarter worth approximately $426,000. Wealth Enhancement Advisory Services LLC lifted its position in Corpay by 45.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,277 shares of the company’s stock valued at $1,447,000 after acquiring an additional 1,343 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Corpay by 22.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 261 shares of the company’s stock valued at $91,000 after acquiring an additional 47 shares during the last quarter. First Hawaiian Bank lifted its position in Corpay by 16.6% during the first quarter. First Hawaiian Bank now owns 7,696 shares of the company’s stock valued at $2,684,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Corpay by 219.8% during the first quarter. Versant Capital Management Inc now owns 339 shares of the company’s stock valued at $118,000 after acquiring an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CPAY shares. Robert W. Baird set a $440.00 target price on shares of Corpay in a research report on Tuesday, June 10th. Morgan Stanley decreased their target price on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. UBS Group decreased their target price on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 target price for the company. Finally, Wall Street Zen cut shares of Corpay from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $399.43.

Corpay Trading Up 1.8%

NYSE CPAY opened at $297.51 on Friday. The company has a fifty day simple moving average of $316.66 and a two-hundred day simple moving average of $325.07. The stock has a market cap of $21.01 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.11 and a beta of 1.00. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81. 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 (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $4.55 earnings per share. On average, analysts forecast that Corpay, Inc. will post 19.76 earnings per share 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.