KLP Kapitalforvaltning AS Sells 20,100 Shares of Corpay, Inc. $CPAY

KLP Kapitalforvaltning AS trimmed its position in Corpay, Inc. (NYSE:CPAY) by 43.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,808 shares of the company’s stock after selling 20,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Corpay were worth $8,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Corpay by 1.5% in the first quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock worth $2,745,398,000 after buying an additional 119,987 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Corpay by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock worth $1,648,970,000 after acquiring an additional 472,147 shares in the last quarter. Boston Partners raised its stake in shares of Corpay by 5.8% during the first quarter. Boston Partners now owns 2,163,940 shares of the company’s stock worth $751,371,000 after acquiring an additional 118,542 shares in the last quarter. Invesco Ltd. raised its stake in shares of Corpay by 12.3% during the first quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock worth $660,731,000 after acquiring an additional 208,067 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Corpay by 30.7% in the first 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. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Down 0.6%

Shares of CPAY stock opened at $290.49 on Friday. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.11 and a beta of 0.97. Corpay, Inc. has a one year low of $269.02 and a one year high of $400.81. The company’s fifty day moving average price is $308.83 and its 200-day moving average price is $321.61. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CPAY shares. Raymond James Financial set a $392.00 target price on shares of Corpay and gave the stock an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen raised Corpay from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Morgan Stanley lowered their price target on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. UBS Group lowered their price target on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods decreased their target price on Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Ten equities 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $396.21.

Corpay Company 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.