Skandinaviska Enskilda Banken AB publ trimmed its position in Corpay, Inc. (NYSE:CPAY – Free Report) by 49.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,286 shares of the company’s stock after selling 21,224 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Corpay were worth $5,671,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd increased its position in Corpay by 494.3% in the 2nd quarter. XTX Topco Ltd now owns 6,644 shares of the company’s stock valued at $1,770,000 after buying an additional 5,526 shares in the last quarter. Seven Eight Capital LP bought a new stake in Corpay in the 2nd quarter valued at about $1,708,000. Vanguard Personalized Indexing Management LLC increased its position in Corpay by 10.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,107 shares of the company’s stock valued at $1,079,000 after buying an additional 382 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Corpay by 20.7% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,212 shares of the company’s stock valued at $323,000 after buying an additional 208 shares in the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in Corpay in the 2nd quarter valued at about $3,745,000. 98.84% of the stock is owned by institutional investors.
Corpay Stock Down 1.8 %
Shares of NYSE CPAY opened at $307.21 on Monday. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $319.94. The business has a 50 day simple 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. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.
Wall Street Analyst Weigh In
A number of brokerages have commented on CPAY. JPMorgan Chase & Co. boosted their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Jefferies Financial Group boosted their price objective on Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Evercore ISI decreased their price objective on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, Raymond James decreased their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $334.58.
Check Out Our Latest Research Report on CPAY
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.
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