OLD National Bancorp IN Sells 124 Shares of Corpay, Inc. (NYSE:CPAY)

OLD National Bancorp IN decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 13.7% during the first quarter, Holdings Channel.com reports. The fund owned 781 shares of the company’s stock after selling 124 shares during the quarter. OLD National Bancorp IN’s holdings in Corpay were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Corpay by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after buying an additional 120,688 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock valued at $1,976,651,000 after purchasing an additional 1,000,699 shares in the last quarter. Boston Partners grew its holdings in shares of Corpay by 6.4% in the fourth quarter. Boston Partners now owns 2,045,398 shares of the company’s stock valued at $694,847,000 after purchasing an additional 122,380 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Corpay by 1.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company’s stock valued at $659,890,000 after purchasing an additional 20,937 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Corpay by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company’s stock valued at $584,962,000 after purchasing an additional 54,894 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of NYSE CPAY opened at $350.74 on Wednesday. The stock has a 50 day moving average of $323.11 and a two-hundred day moving average of $347.29. The stock has a market cap of $24.72 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.32 and a beta of 0.96. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81.

Corpay (NYSE:CPAY) last posted its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating the consensus estimate of $4.50 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Corpay had a return on equity of 41.46% and a net margin of 25.25%. Corpay’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.10 earnings per share. On average, research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CPAY. Robert W. Baird set a $440.00 price target on Corpay in a research report on Tuesday. Raymond James restated an “outperform” rating and issued a $414.00 price target (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Wells Fargo & Company lowered their price target on Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. UBS Group lowered their price target on Corpay from $400.00 to $365.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Barclays lowered their price target on Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $398.07.

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.