King Luther Capital Management Corp Has $2.59 Million Stake in Corpay, Inc. (NYSE:CPAY)

King Luther Capital Management Corp trimmed its position in shares of Corpay, Inc. (NYSE:CPAY) by 1.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,417 shares of the company’s stock after selling 113 shares during the period. King Luther Capital Management Corp’s holdings in Corpay were worth $2,586,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Virtu Financial LLC boosted its stake in shares of Corpay by 159.8% in the 1st quarter. Virtu Financial LLC now owns 4,801 shares of the company’s stock valued at $1,674,000 after purchasing an additional 2,953 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Corpay by 12.3% in the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock valued at $660,731,000 after purchasing an additional 208,067 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Corpay by 11.1% in 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. Condor Capital Management acquired a new stake in shares of Corpay in the 1st quarter valued at approximately $1,943,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Corpay in the 1st quarter valued at approximately $41,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CPAY shares. Barclays reduced their price target on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Robert W. Baird set a $440.00 target price on shares of Corpay in a research report on Tuesday, June 10th. UBS Group cut their target price on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Corpay from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and an average price target of $396.33.

Corpay Stock Up 0.7%

Corpay stock opened at $303.77 on Tuesday. 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 $269.02 and a 52-week high of $400.81. The firm has a 50 day moving average price of $328.85 and a two-hundred day moving average price of $337.55. The firm has a market cap of $21.45 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.14 and a beta of 0.96.

Corpay (NYSE:CPAY) last released its quarterly 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 during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $4.55 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. Equities analysts predict 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.