Corpay, Inc. (NYSE:CPAY) Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 157,534 shares of the company’s stock after selling 16,567 shares during the period. TD Asset Management Inc owned approximately 0.22% of Corpay worth $54,935,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CPAY. LPL Financial LLC lifted its stake in Corpay by 19.7% during the 4th quarter. LPL Financial LLC now owns 9,823 shares of the company’s stock valued at $3,324,000 after acquiring an additional 1,620 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Corpay by 14.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,988 shares of the company’s stock valued at $12,179,000 after acquiring an additional 4,629 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Corpay by 3.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,660 shares of the company’s stock valued at $35,436,000 after acquiring an additional 3,017 shares during the period. Norges Bank acquired a new stake in Corpay during the 4th quarter valued at approximately $241,739,000. Finally, Maridea Wealth Management LLC acquired a new stake in Corpay during the 4th quarter valued at approximately $245,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on CPAY. UBS Group decreased their target price on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a research note on Thursday, July 17th. They issued a “buy” rating and a $390.00 target price for the company. Wells Fargo & Company decreased their target price on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Barclays decreased their target price on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Finally, Oppenheimer began coverage on shares of Corpay in a research note on Monday, April 28th. They issued a “market perform” rating for the company. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and a consensus target price of $401.07.

Corpay Price Performance

Shares of NYSE CPAY opened at $335.66 on Monday. Corpay, Inc. has a one year low of $265.06 and a one year high of $400.81. The firm has a market cap of $23.66 billion, a PE ratio of 23.54, a PEG ratio of 1.28 and a beta of 0.95. The firm has a fifty day moving average of $331.42 and a 200 day moving average of $341.31. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10.

Corpay (NYSE:CPAY) last released its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm earned $4.10 earnings per share. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.