USS Investment Management Ltd Trims Stake in Corpay, Inc. (NYSE:CPAY)

USS Investment Management Ltd lowered its position in Corpay, Inc. (NYSE:CPAY) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,348 shares of the company’s stock after selling 2,880 shares during the quarter. USS Investment Management Ltd’s holdings in Corpay were worth $4,181,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in Corpay by 17.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after buying an additional 3,504 shares during the period. Crossmark Global Holdings Inc. increased its stake in Corpay by 70.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company’s stock worth $1,689,000 after buying an additional 2,059 shares during the period. Nisa Investment Advisors LLC increased its stake in Corpay by 68.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company’s stock worth $1,342,000 after buying an additional 1,611 shares during the period. Journey Strategic Wealth LLC purchased a new position in Corpay in the 4th quarter worth about $499,000. Finally, Proficio Capital Partners LLC purchased a new position in Corpay in the 4th quarter worth about $28,632,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CPAY shares. Oppenheimer started coverage on shares of Corpay in a research note on Monday, April 28th. They issued a “market perform” rating on the stock. Royal Bank of Canada raised their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. UBS Group dropped their target price on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley increased their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Raymond James reiterated an “outperform” rating and set a $414.00 target price (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $395.07.

Corpay Stock Down 0.6%

NYSE:CPAY opened at $326.19 on Friday. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The stock has a market capitalization of $22.99 billion, a P/E ratio of 23.33, a P/E/G ratio of 1.32 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The company’s 50-day simple moving average is $328.10 and its 200-day simple moving average is $350.38.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating analysts’ consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned $4.10 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.