Corpay, Inc. $CPAY Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,067 shares of the company’s stock after selling 35 shares during the quarter. Baird Financial Group Inc.’s holdings in Corpay were worth $20,947,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC raised its stake in shares of Corpay by 6.2% during the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company’s stock worth $11,642,000 after buying an additional 1,942 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of Corpay during the 1st quarter worth approximately $213,000. GAMMA Investing LLC raised its stake in shares of Corpay by 9.9% during the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock worth $560,000 after buying an additional 145 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Corpay by 9.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company’s stock worth $1,016,000 after buying an additional 246 shares during the period. Finally, Park Avenue Securities LLC increased its position in shares of Corpay by 15.2% during the first quarter. Park Avenue Securities LLC now owns 1,898 shares of the company’s stock worth $662,000 after purchasing an additional 250 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Up 0.1%

Shares of NYSE:CPAY opened at $325.64 on Tuesday. 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 business has a fifty day moving average of $325.84 and a two-hundred day moving average of $331.52. The stock has a market cap of $22.99 billion, a P/E ratio of 22.12, a PEG ratio of 1.24 and a beta of 1.00. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) 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 analysts’ expectations of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.55 EPS. On average, research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several recent research reports. Wall Street Zen downgraded Corpay from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Raymond James Financial set a $392.00 price objective on Corpay and gave the company an “outperform” rating in a research note on Thursday, August 7th. UBS Group reduced their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research note on Thursday, July 17th. They issued a “buy” rating and a $390.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $399.43.

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.