Thrivent Financial for Lutherans Lowers Holdings in Corpay, Inc. (NYSE:CPAY)

Thrivent Financial for Lutherans trimmed its holdings in Corpay, Inc. (NYSE:CPAY) by 80.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,835 shares of the company’s stock after selling 11,511 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Corpay were worth $755,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new stake in Corpay in the first quarter valued at $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in shares of Corpay during the 1st quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Corpay during the 1st quarter worth about $1,355,377,000. Boston Partners purchased a new stake in shares of Corpay during the 1st quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP purchased a new stake in shares of Corpay during the 1st quarter worth about $553,279,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CPAY. Evercore ISI lowered their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Raymond James lowered their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Bank of America reduced their price target on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. Three equities research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $337.92.

Corpay Stock Performance

NYSE:CPAY opened at $333.02 on Tuesday. 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, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $333.34. The stock has a market cap of $23.40 billion, a PE ratio of 24.74, a P/E/G ratio of 1.24 and a beta of 1.22. The business’s 50 day moving average is $300.62.

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