Public Employees Retirement Association of Colorado Sells 602 Shares of Corpay, Inc. (NYSE:CPAY)

Public Employees Retirement Association of Colorado reduced its position in Corpay, Inc. (NYSE:CPAY) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,083 shares of the company’s stock after selling 602 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Corpay were worth $1,887,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CPAY. Epic Trust Investment Advisors LLC lifted its stake in shares of Corpay by 4.1% in the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after buying an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after acquiring an additional 43 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Corpay by 4.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock valued at $352,000 after purchasing an additional 54 shares during the last quarter. Capital Insight Partners LLC increased its holdings in Corpay by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock worth $601,000 after purchasing an additional 55 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Corpay by 0.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock worth $2,066,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CPAY shares. Wells Fargo & Company started coverage on Corpay in a report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price target for the company. Jefferies Financial Group upped their target price on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Evercore ISI dropped their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. Three 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $334.58.

Corpay Price Performance

NYSE:CPAY opened at $311.67 on Tuesday. Corpay, Inc. has a 1 year low of $220.39 and a 1 year 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 stock has a fifty day moving average price of $296.51. The stock has a market capitalization of $21.90 billion, a P/E ratio of 23.19, a P/E/G 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, beating analysts’ consensus estimates of $4.51 by $0.04. The business 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 firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.85 EPS. As a group, analysts anticipate that Corpay, Inc. will post 17.81 earnings per share for the current year.

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.