Envestnet Asset Management Inc. Reduces Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Envestnet Asset Management Inc. lessened its stake in shares of Corpay, Inc. (NYSE:CPAY) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,775 shares of the company’s stock after selling 436 shares during the quarter. Envestnet Asset Management Inc. owned about 0.14% of Corpay worth $25,782,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in Corpay in the first quarter valued at $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Corpay in the 1st quarter valued at about $34,000. RFP Financial Group LLC acquired a new stake in shares of Corpay in the 1st quarter valued at about $35,000. LGT Financial Advisors LLC purchased a new position in Corpay during the 2nd quarter worth approximately $33,000. Finally, Innealta Capital LLC acquired a new position in Corpay during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Down 1.8 %

Shares of CPAY opened at $307.21 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. Corpay, Inc. has a 52-week low of $220.39 and a 52-week high of $319.94. The company has a 50-day moving average of $296.06. The stock has a market cap of $21.59 billion, a P/E ratio of 22.86, a PEG ratio of 1.22 and a beta of 1.22.

Corpay (NYSE:CPAY) last posted its quarterly earnings results 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. The company had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $3.85 EPS. On average, research analysts anticipate that Corpay, Inc. will post 17.81 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CPAY. Raymond James decreased their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America dropped their price target on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company began coverage on Corpay in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price objective for the company. Evercore ISI dropped their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Jefferies Financial Group upped their price target on Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.