Kentucky Retirement Systems Cuts Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Kentucky Retirement Systems lessened its holdings in Corpay, Inc. (NYSE:CPAY) by 3.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,295 shares of the company’s stock after selling 188 shares during the period. Kentucky Retirement Systems’ holdings in Corpay were worth $1,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Chevy Chase Trust Holdings LLC bought a new stake in Corpay during the 1st quarter valued at $12,335,000. Empirical Finance LLC purchased a new position in Corpay in the first quarter valued at about $829,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Corpay in the first quarter worth about $1,013,000. Agate Pass Investment Management LLC purchased a new stake in shares of Corpay during the first quarter valued at about $3,937,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Corpay in the 1st quarter valued at about $949,000. 98.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CPAY. Bank of America decreased their target price on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group raised their price objective on Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James reduced their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. William Blair raised Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Evercore ISI cut their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $334.58.

Corpay Trading Down 1.8 %

CPAY opened at $307.21 on Friday. 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 $220.39 and a 12-month high of $319.94. The stock’s 50 day simple moving average is $296.06. The stock has a market cap of $21.59 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.22 and a beta of 1.22.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (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 during the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter last year, the company posted $3.85 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, analysts predict 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.