Corpay, Inc. $CPAY Shares Sold by Generate Investment Management Ltd

Generate Investment Management Ltd reduced its stake in Corpay, Inc. (NYSE:CPAY) by 31.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,249 shares of the company’s stock after selling 22,730 shares during the quarter. Generate Investment Management Ltd owned 0.07% of Corpay worth $16,674,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Zions Bancorporation National Association UT purchased a new position in Corpay in the 1st quarter valued at $41,000. Rakuten Securities Inc. purchased a new stake in shares of Corpay in the first quarter valued at about $45,000. Larson Financial Group LLC increased its stake in shares of Corpay by 309.5% during the first quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock worth $60,000 after acquiring an additional 130 shares during the period. Whipplewood Advisors LLC raised its holdings in Corpay by 648.0% during the first quarter. Whipplewood Advisors LLC now owns 187 shares of the company’s stock worth $65,000 after purchasing an additional 162 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Corpay by 22.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 261 shares of the company’s stock worth $91,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CPAY. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price objective on the stock. Robert W. Baird set a $440.00 price objective on Corpay in a report on Tuesday, June 10th. UBS Group reduced their target price on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Morgan Stanley decreased their target price on shares of 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, Wall Street Zen upgraded shares of Corpay from a “hold” rating to a “buy” rating in a report on Sunday. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $399.43.

Corpay Price Performance

Shares of NYSE CPAY opened at $297.51 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The company’s 50-day moving average price is $316.66 and its 200 day moving average price is $324.98. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The stock has a market cap of $21.01 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.12 and a beta of 1.00.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $4.55 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, research analysts forecast that Corpay, Inc. will post 19.76 earnings per share 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.