GAM Holding AG Has $1.55 Million Stock Holdings in Corpay, Inc. $CPAY

GAM Holding AG reduced its position in Corpay, Inc. (NYSE:CPAY) by 15.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,658 shares of the company’s stock after selling 832 shares during the period. GAM Holding AG’s holdings in Corpay were worth $1,546,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CPAY. CVA Family Office LLC increased its position in Corpay by 56.7% in the 2nd quarter. CVA Family Office LLC now owns 94 shares of the company’s stock worth $31,000 after purchasing an additional 34 shares during the last quarter. Hazlett Burt & Watson Inc. acquired a new position in Corpay in the second quarter worth approximately $33,000. Ameritas Advisory Services LLC acquired a new position in Corpay in the second quarter worth approximately $37,000. Zions Bancorporation National Association UT acquired a new position in Corpay in the first quarter worth approximately $41,000. Finally, Larson Financial Group LLC increased its stake in shares of Corpay by 309.5% during the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock worth $60,000 after purchasing an additional 130 shares during the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Performance

CPAY opened at $260.58 on Friday. The stock’s 50 day moving average price is $297.47 and its two-hundred day moving average price is $316.83. The firm has a market capitalization of $18.40 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 12-month low of $252.84 and a 12-month high of $400.81.

Corpay (NYSE:CPAY) last announced its quarterly earnings data 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. The business had revenue of $1.10 billion for 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 quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $4.55 earnings per share. On average, equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPAY. Morgan Stanley dropped their price target on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corpay in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their target price on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a report on Thursday, July 17th. They set a “buy” rating and a $390.00 price objective on the stock. Finally, UBS Group lowered their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and an average price target of $395.58.

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.