Price T Rowe Associates Inc. MD Sells 515,763 Shares of Corpay, Inc. $CPAY

Price T Rowe Associates Inc. MD reduced its position in shares of Corpay, Inc. (NYSE:CPAY) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,325,055 shares of the company’s stock after selling 515,763 shares during the period. Price T Rowe Associates Inc. MD owned approximately 7.58% of Corpay worth $1,856,954,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Colonial Trust Co SC raised its holdings in shares of Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock worth $33,000 after buying an additional 53 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Corpay in the first quarter valued at about $41,000. Rakuten Securities Inc. bought a new position in Corpay in the first quarter valued at about $45,000. Larson Financial Group LLC raised its stake in Corpay by 309.5% during the first quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock worth $60,000 after acquiring an additional 130 shares in the last quarter. Finally, Continuum Advisory LLC raised its stake in Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company’s stock worth $62,000 after acquiring an additional 42 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Trading Down 1.2%

Shares of NYSE CPAY opened at $316.9520 on Thursday. The firm has a 50 day moving average price of $325.89 and a two-hundred day moving average price of $335.03. The stock has a market cap of $22.38 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. 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 (NYSE:CPAY) last released its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.55 EPS. As a group, equities analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird set a $440.00 price target on shares of Corpay in a research note on Tuesday, June 10th. UBS Group dropped their price objective on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Wells Fargo & Company lowered their price target on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Finally, Wall Street Zen cut Corpay from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $399.43.

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.