AQR Capital Management LLC Lowers Stake in Corpay, Inc. (NYSE:CPAY)

AQR Capital Management LLC cut its stake in Corpay, Inc. (NYSE:CPAY) by 27.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,661 shares of the company’s stock after selling 20,294 shares during the quarter. AQR Capital Management LLC owned about 0.07% of Corpay worth $14,029,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Corpay in the first quarter valued at about $31,000. Sunbelt Securities Inc. bought a new stake in shares of Corpay in the 1st quarter valued at about $34,000. RFP Financial Group LLC purchased a new position in shares of Corpay in the 1st quarter worth approximately $35,000. LGT Financial Advisors LLC bought a new position in shares of Corpay during the 2nd quarter worth approximately $33,000. Finally, Innealta Capital LLC acquired a new stake in Corpay in the second quarter valued at approximately $36,000. 98.84% of the stock is owned by institutional investors.

Corpay Stock Performance

Shares of CPAY opened at $314.92 on Wednesday. The stock’s 50-day moving average is $298.56. The firm has a market cap of $22.13 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.24 and a beta of 1.22. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same period last year, the company earned $3.85 earnings per share. Corpay’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts forecast that Corpay, Inc. will post 17.83 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Raymond James reduced their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company began coverage on shares of Corpay in a research report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective for the company. Jefferies Financial Group boosted their target price on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Finally, William Blair raised shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $334.58.

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.