Commonwealth Equity Services LLC Sells 201 Shares of Corpay, Inc. (NYSE:CPAY)

Commonwealth Equity Services LLC trimmed its holdings in Corpay, Inc. (NYSE:CPAY) by 14.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,171 shares of the company’s stock after selling 201 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Corpay were worth $312,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CPAY. Chevy Chase Trust Holdings LLC bought a new stake in shares of Corpay during the first quarter valued at approximately $12,335,000. Empirical Finance LLC bought a new stake in shares of Corpay during the first quarter worth $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Corpay during the first quarter valued at $1,013,000. Agate Pass Investment Management LLC bought a new position in Corpay in the first quarter valued at about $3,937,000. Finally, EP Wealth Advisors LLC acquired a new stake in Corpay in the first quarter worth about $949,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

CPAY opened at $311.67 on Tuesday. The stock’s 50-day moving average is $296.51. Corpay, Inc. has a 52-week low of $220.39 and a 52-week high of $319.94. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $21.90 billion, a price-to-earnings ratio of 23.19, 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The company had revenue of $975.70 million for 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 business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.85 EPS. On average, research analysts forecast that Corpay, Inc. will post 17.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research note 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 for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Bank of America dropped their price objective on Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $334.58.

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.