King Luther Capital Management Corp Sells 1,327 Shares of Corpay, Inc. (NYSE:CPAY)

King Luther Capital Management Corp lowered its stake in Corpay, Inc. (NYSE:CPAY) by 15.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,321 shares of the company’s stock after selling 1,327 shares during the quarter. King Luther Capital Management Corp’s holdings in Corpay were worth $1,950,000 at the end of the most recent reporting period.

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

Corpay Trading Down 1.8 %

NYSE CPAY opened at $307.21 on Friday. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. 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 firm has a 50 day moving average of $296.06. The firm 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 announced its quarterly earnings data 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 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 quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.85 EPS. As a group, sell-side analysts predict that Corpay, Inc. will post 17.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CPAY shares. 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 on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research report on Thursday, August 8th. Raymond James dropped their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Evercore ISI dropped 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 investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $334.58.

Corpay 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.