Corpay, Inc. (NYSE:CPAY) Stake Lessened by National Pension Service

National Pension Service decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 15.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,442 shares of the company’s stock after selling 20,038 shares during the period. National Pension Service’s holdings in Corpay were worth $34,229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in Corpay by 4.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,863 shares of the company’s stock valued at $895,000 after purchasing an additional 111 shares in the last quarter. Argonautica Private Wealth Management Inc. acquired a new stake in shares of Corpay in the third quarter valued at $533,000. US Bancorp DE boosted its stake in Corpay by 5.0% during the third quarter. US Bancorp DE now owns 3,091 shares of the company’s stock valued at $967,000 after buying an additional 148 shares in the last quarter. Catalyst Financial Partners LLC acquired a new position in Corpay during the third quarter worth about $202,000. Finally, First Trust Direct Indexing L.P. raised its position in Corpay by 22.9% in the third quarter. First Trust Direct Indexing L.P. now owns 1,062 shares of the company’s stock worth $332,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets upped their price target on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Raymond James reduced their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company boosted their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $353.46.

Corpay Stock Up 5.5 %

CPAY stock opened at $348.97 on Thursday. The company has a 50 day moving average of $323.31 and a two-hundred day moving average of $295.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay, Inc. has a 12-month low of $221.37 and a 12-month high of $355.47. The company has a market cap of $24.23 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 1.30 and a beta of 1.21.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter last year, the firm earned $3.85 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Corpay, Inc. will post 17.96 earnings per share 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.