Corpay, Inc. $CPAY Position Reduced by Blair William & Co. IL

Blair William & Co. IL cut its position in shares of Corpay, Inc. (NYSE:CPAY) by 2.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,328 shares of the company’s stock after selling 35 shares during the quarter. Blair William & Co. IL’s holdings in Corpay were worth $441,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Select Equity Group L.P. lifted its position in shares of Corpay by 1,302.3% in the first quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company’s stock worth $425,054,000 after purchasing an additional 1,131,975 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Corpay by 4,811.9% in the first quarter. Bessemer Group Inc. now owns 557,252 shares of the company’s stock worth $194,326,000 after purchasing an additional 545,907 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Corpay by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock worth $1,648,970,000 after purchasing an additional 472,147 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Corpay in the first quarter worth approximately $104,428,000. Finally, Wellington Management Group LLP lifted its position in shares of Corpay by 30.7% in the first quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock worth $444,639,000 after purchasing an additional 299,452 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Corpay from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a research report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price target for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a report on Wednesday, October 8th. Finally, UBS Group dropped their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $395.58.

Corpay Trading Up 3.0%

Shares of CPAY stock opened at $285.90 on Friday. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The business’s 50 day moving average is $305.28 and its two-hundred day moving average is $318.74. The company has a market cap of $20.19 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.97.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating 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 company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the business earned $4.55 earnings per share. Corpay’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Corpay 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.