Prudential PLC Sells 2,067 Shares of Corpay, Inc. (NYSE:CPAY)

Prudential PLC trimmed its position in Corpay, Inc. (NYSE:CPAY) by 64.0% 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 1,164 shares of the company’s stock after selling 2,067 shares during the quarter. Prudential PLC’s holdings in Corpay were worth $310,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in Corpay during the first quarter valued at $25,000. Headlands Technologies LLC bought a new stake in shares of Corpay during the 1st quarter valued at about $31,000. LGT Financial Advisors LLC purchased a new position in shares of Corpay during the second quarter worth about $33,000. Sunbelt Securities Inc. bought a new position in shares of Corpay in the first quarter worth approximately $34,000. Finally, RFP Financial Group LLC purchased a new stake in Corpay in the first quarter valued at approximately $35,000. 98.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Jefferies Financial Group increased their target price on Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Bank of America decreased their price objective on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Evercore ISI decreased their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $332.50.

Corpay Trading Up 0.5 %

Shares of CPAY opened at $307.43 on Friday. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $319.94. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50-day moving average is $292.85. The company has a market cap of $21.34 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.85 EPS. On average, research analysts forecast that Corpay, Inc. will post 17.81 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.