Versor Investments LP Trims Stock Position in Corpay, Inc. $CPAY

Versor Investments LP cut its stake in shares of Corpay, Inc. (NYSE:CPAY) by 62.6% during the first quarter, HoldingsChannel.com reports. The fund owned 1,149 shares of the company’s stock after selling 1,926 shares during the quarter. Versor Investments LP’s holdings in Corpay were worth $401,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CPAY. Colonial Trust Co SC increased its position in shares of Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock worth $33,000 after acquiring an additional 53 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Corpay during the first quarter worth approximately $41,000. Rakuten Securities Inc. purchased a new position in shares of Corpay during the first quarter worth approximately $45,000. Larson Financial Group LLC increased its position in shares of 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 during the period. Finally, Continuum Advisory LLC increased its position in shares of 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 during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CPAY shares. Morgan Stanley reduced their target price on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. Robert W. Baird set a $440.00 price objective 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 on the stock in a research note on Thursday, August 7th. Oppenheimer initiated coverage on shares of Corpay in a research note on Monday, April 28th. They set a “market perform” rating on the stock. Finally, Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the company an “outperform” rating in a research note on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.43.

Corpay Price Performance

Shares of CPAY opened at $316.9520 on Thursday. The company has a market cap of $22.38 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The company has a 50 day moving average of $325.89 and a two-hundred day moving average of $335.03.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. Corpay’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $4.55 earnings per share. As a group, analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.