Inspire Investing LLC Reduces Holdings in Corpay, Inc. (NYSE:CPAY)

Inspire Investing LLC lessened its stake in Corpay, Inc. (NYSE:CPAY) by 57.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,644 shares of the company’s stock after selling 10,160 shares during the period. Inspire Investing LLC’s holdings in Corpay were worth $2,036,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Corpay in the first quarter worth $31,000. Sunbelt Securities Inc. bought a new stake in shares of Corpay in the first quarter worth $34,000. RFP Financial Group LLC acquired a new position in Corpay in the first quarter worth $35,000. LGT Financial Advisors LLC acquired a new position in Corpay in the second quarter worth $33,000. Finally, Innealta Capital LLC acquired a new position in Corpay in the second quarter worth $36,000. Institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 0.3 %

Shares of Corpay stock opened at $307.71 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The business has a 50-day simple moving average of $295.00. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94. The company has a market capitalization of $21.62 billion, a PE ratio of 22.90, a PEG ratio of 1.22 and a beta of 1.22.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. During the same period in the previous year, the business earned $3.85 earnings per share. Corpay’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Corpay, Inc. will post 17.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CPAY. Bank of America decreased their price objective on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Raymond James reduced their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. William Blair raised shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $334.58.

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.