Kayne Anderson Rudnick Investment Management LLC Has $28.89 Million Stake in Corpay, Inc. (NYSE:CPAY)

Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of Corpay, Inc. (NYSE:CPAY) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,432 shares of the company’s stock after selling 3,987 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.15% of Corpay worth $28,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CPAY. Vanguard Group Inc. acquired a new stake in shares of Corpay in the 1st quarter valued at $2,431,089,000. JPMorgan Chase & Co. acquired a new stake in Corpay in the first quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD bought a new stake in Corpay during the 1st quarter worth about $1,355,377,000. Boston Partners acquired a new position in Corpay during the 1st quarter valued at about $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new position in Corpay during the 1st quarter valued at about $553,279,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CPAY shares. Jefferies Financial Group boosted their price target on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Three equities research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $334.58.

Corpay Price Performance

NYSE CPAY opened at $307.21 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50-day simple moving average is $296.06. Corpay, Inc. has a one year low of $220.39 and a one year high of $319.94. The firm has a market capitalization of $21.59 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 1.22 and a beta of 1.22.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.85 earnings per share. Equities analysts anticipate that Corpay, Inc. will post 17.81 EPS for the current year.

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.