Corpay, Inc. $CPAY Stock Holdings Reduced by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in Corpay, Inc. (NYSE:CPAY) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,027 shares of the company’s stock after selling 373 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Corpay were worth $673,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Select Equity Group L.P. raised its position in Corpay by 1,302.3% during the first quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company’s stock valued at $425,054,000 after acquiring an additional 1,131,975 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Corpay by 4,811.9% during the 1st 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 during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after purchasing an additional 472,147 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Corpay in the 1st quarter valued at $104,428,000. Finally, Wellington Management Group LLP lifted its stake in shares of Corpay by 30.7% in the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock valued at $444,639,000 after purchasing an additional 299,452 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Up 0.3%

Shares of CPAY opened at $286.24 on Tuesday. The company has a market capitalization of $20.21 billion, a P/E ratio of 19.45, a PEG ratio of 1.08 and a beta of 0.97. Corpay, Inc. has a one year low of $269.02 and a one year high of $400.81. The business’s 50 day simple moving average is $304.93 and its 200-day simple moving average is $318.46. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12.

Corpay (NYSE:CPAY) last issued its quarterly earnings data 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. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.55 EPS. As a group, sell-side analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on CPAY. Morgan Stanley cut their target price on Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Raymond James Financial set a $392.00 price objective on Corpay and gave the company an “outperform” rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a report on Thursday, July 17th. They set a “buy” rating and a $390.00 price objective for the company. Keefe, Bruyette & Woods decreased their target price on Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corpay in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $395.58.

About Corpay

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.