SG Americas Securities LLC Lowers Stock Holdings in Corpay, Inc. (NYSE:CPAY)

SG Americas Securities LLC lessened its stake in shares of Corpay, Inc. (NYSE:CPAY) by 84.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,817 shares of the company’s stock after selling 9,595 shares during the quarter. SG Americas Securities LLC’s holdings in Corpay were worth $568,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CPAY. Los Angeles Capital Management LLC purchased a new position in Corpay during the first quarter worth about $33,840,000. GAMMA Investing LLC acquired a new position in Corpay during the first quarter worth $149,000. Pensionfund Sabic purchased a new position in Corpay in the first quarter worth $1,327,000. Massmutual Trust Co. FSB ADV acquired a new stake in Corpay in the first quarter valued at $61,000. Finally, Fulton Bank N.A. purchased a new stake in shares of Corpay during the 1st quarter worth $441,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CPAY shares. JPMorgan Chase & Co. raised their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Evercore ISI reduced their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Jefferies Financial Group upped their price target on Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America lifted their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, William Blair raised Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $346.25.

Corpay Stock Up 1.1 %

CPAY opened at $342.54 on Wednesday. The business’s fifty day simple moving average is $308.24 and its 200 day simple moving average is $291.36. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $343.86. The firm has a market cap of $24.07 billion, a P/E ratio of 25.49, a PEG ratio of 1.33 and a beta of 1.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

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

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.