Fifth Third Wealth Advisors LLC Reduces Stake in Corpay, Inc. $CPAY

Fifth Third Wealth Advisors LLC lowered its position in Corpay, Inc. (NYSE:CPAY) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 627 shares of the company’s stock after selling 35 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Corpay were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CPAY. Ameritas Advisory Services LLC acquired a new position in Corpay in the second quarter valued at approximately $37,000. Zions Bancorporation National Association UT acquired a new position in Corpay in the first quarter valued at approximately $41,000. Rakuten Securities Inc. acquired a new position in Corpay in the first quarter valued at approximately $45,000. Larson Financial Group LLC lifted its holdings in Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock valued at $60,000 after acquiring an additional 130 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Corpay by 19.4% in the second quarter. Blue Trust Inc. now owns 246 shares of the company’s stock valued at $82,000 after acquiring an additional 40 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Up 2.5%

Shares of CPAY opened at $289.53 on Wednesday. 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 one year low of $269.02 and a one year high of $400.81. The stock has a market capitalization of $20.44 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.07 and a beta of 0.97. The stock has a 50 day moving average price of $306.68 and a 200 day moving average price of $319.91.

Corpay (NYSE:CPAY) last issued its quarterly earnings results 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 firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business earned $4.55 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPAY. Keefe, Bruyette & Woods decreased their price target on Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a research report on Wednesday, October 8th. Raymond James Financial set a $392.00 price objective on Corpay and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, UBS Group cut their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $397.85.

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.