Anchor Capital Advisors LLC Lowers Stock Holdings in Corpay, Inc. $CPAY

Anchor Capital Advisors LLC reduced its stake in Corpay, Inc. (NYSE:CPAY) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,590 shares of the company’s stock after selling 2,760 shares during the quarter. Anchor Capital Advisors LLC owned about 0.13% of Corpay worth $30,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Resona Asset Management Co. Ltd. raised its stake in Corpay by 4.6% in the second quarter. Resona Asset Management Co. Ltd. now owns 21,750 shares of the company’s stock valued at $7,201,000 after purchasing an additional 947 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Corpay in the second quarter valued at approximately $1,394,000. Machina Capital S.A.S. bought a new position in Corpay during the second quarter valued at approximately $1,470,000. South Dakota Investment Council grew its position in Corpay by 31.5% during the second quarter. South Dakota Investment Council now owns 2,507 shares of the company’s stock valued at $832,000 after acquiring an additional 600 shares during the last quarter. Finally, State of Michigan Retirement System grew its position in Corpay by 1.6% during the second quarter. State of Michigan Retirement System now owns 19,184 shares of the company’s stock valued at $6,366,000 after acquiring an additional 300 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of recent research reports. Williams Trading set a $300.00 price target on shares of Corpay in a research report on Monday. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the company an “outperform” rating in a research report on Thursday, August 7th. Morgan Stanley reduced their price target 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 price target on the stock. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $388.23.

Corpay Stock Up 0.2%

Shares of Corpay stock opened at $261.73 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. Corpay, Inc. has a 52-week low of $252.84 and a 52-week high of $400.81. The stock has a market capitalization of $18.48 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 1.02 and a beta of 0.97. The company’s 50 day moving average price is $293.74 and its 200-day moving average price is $315.90.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business earned $4.55 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. Equities research analysts forecast 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.