Corpay, Inc. $CPAY Shares Sold by Pensionfund Sabic

Pensionfund Sabic lowered its stake in Corpay, Inc. (NYSE:CPAY) by 17.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,800 shares of the company’s stock after selling 800 shares during the quarter. Pensionfund Sabic’s holdings in Corpay were worth $1,325,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Corpay by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock valued at $2,745,398,000 after acquiring an additional 119,987 shares during the period. JPMorgan Chase & Co. grew its stake in Corpay by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after acquiring an additional 472,147 shares during the period. Boston Partners grew its stake in Corpay by 5.8% in the 1st quarter. Boston Partners now owns 2,163,940 shares of the company’s stock valued at $751,371,000 after acquiring an additional 118,542 shares during the period. Invesco Ltd. grew its stake in Corpay by 12.3% in the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock valued at $660,731,000 after acquiring an additional 208,067 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Corpay by 30.7% during the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock worth $444,639,000 after purchasing an additional 299,452 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Down 2.0%

NYSE CPAY opened at $307.41 on Friday. Corpay, Inc. has a 52 week low of $269.02 and a 52 week 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 business’s fifty day simple moving average is $322.35 and its 200-day simple moving average is $328.44. The firm has a market cap of $21.71 billion, a PE ratio of 20.88, a P/E/G ratio of 1.19 and a beta of 1.00.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a research note on Thursday, July 17th. They set a “buy” rating and a $390.00 target price on the stock. 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. Wall Street Zen raised shares of Corpay from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Finally, UBS Group lowered their target price 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. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and an average 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.