Corpay, Inc. (NYSE:CPAY) Shares Sold by CenterBook Partners LP

CenterBook Partners LP lessened its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 8.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 13,611 shares of the company’s stock after selling 1,311 shares during the period. CenterBook Partners LP’s holdings in Corpay were worth $4,746,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. LPL Financial LLC grew its stake in Corpay by 19.7% during the 4th quarter. LPL Financial LLC now owns 9,823 shares of the company’s stock worth $3,324,000 after buying an additional 1,620 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Corpay by 11.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 77,672 shares of the company’s stock worth $26,286,000 after buying an additional 7,881 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Corpay during the 4th quarter worth approximately $136,000. Federated Hermes Inc. grew its stake in Corpay by 6,150.0% during the 4th quarter. Federated Hermes Inc. now owns 250 shares of the company’s stock worth $85,000 after buying an additional 246 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in Corpay by 7.3% during the 4th quarter. Cerity Partners LLC now owns 31,443 shares of the company’s stock worth $10,542,000 after buying an additional 2,133 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group decreased their price objective on Corpay from $400.00 to $365.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Oppenheimer assumed coverage on Corpay in a research report on Monday, April 28th. They set a “market perform” rating for the company. Wall Street Zen raised Corpay from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Wells Fargo & Company decreased their price objective on Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Finally, Robert W. Baird set a $440.00 price objective on Corpay in a research report on Tuesday, June 10th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Corpay has a consensus rating of “Moderate Buy” and an average target price of $401.07.

Corpay Stock Performance

Shares of CPAY stock opened at $314.79 on Thursday. The company has a market cap of $22.19 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 1.21 and a beta of 0.96. The stock has a 50 day simple moving average of $330.17 and a 200-day simple moving average of $339.56. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.10 EPS. On average, equities analysts forecast 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.