Raymond James & Associates Has $9.96 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Raymond James & Associates reduced its stake in shares of Corpay, Inc. (NYSE:CPAY) by 52.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,852 shares of the company’s stock after selling 35,419 shares during the period. Raymond James & Associates’ holdings in Corpay were worth $9,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Albion Financial Group UT acquired a new position in Corpay in the 3rd quarter valued at approximately $27,000. Headlands Technologies LLC bought a new stake in shares of Corpay during the first quarter valued at approximately $31,000. LGT Financial Advisors LLC acquired a new position in shares of Corpay in the second quarter valued at $33,000. RFP Financial Group LLC bought a new position in Corpay in the first quarter worth $35,000. Finally, Blue Trust Inc. boosted its stake in Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CPAY shares. Bank of America upped their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research report on Thursday, August 8th. Raymond James cut their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Jefferies Financial Group raised their target price on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Four 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.com, Corpay has an average rating of “Moderate Buy” and an average target price of $353.46.

Corpay Trading Down 2.0 %

CPAY opened at $332.02 on Wednesday. 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 company has a fifty day moving average of $320.15 and a 200-day moving average of $294.12. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $355.47. The stock has a market cap of $23.33 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The company had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.85 EPS. On average, sell-side analysts predict that Corpay, Inc. will post 17.83 EPS for the current 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.