Nisa Investment Advisors LLC Sells 1,504 Shares of Corpay, Inc. (NYSE:CPAY)

Nisa Investment Advisors LLC lowered its holdings in Corpay, Inc. (NYSE:CPAY) by 37.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,462 shares of the company’s stock after selling 1,504 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Corpay were worth $859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPAY. Invesco Ltd. grew its holdings in shares of Corpay by 163.7% during the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock worth $570,801,000 after purchasing an additional 1,047,080 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock worth $1,976,651,000 after purchasing an additional 1,000,699 shares in the last quarter. Norges Bank acquired a new stake in shares of Corpay during the 4th quarter worth approximately $241,739,000. GAMMA Investing LLC grew its holdings in shares of Corpay by 38,235.3% during the 1st quarter. GAMMA Investing LLC now owns 559,696 shares of the company’s stock worth $195,177,000 after purchasing an additional 558,236 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Corpay by 4,811.9% in the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company’s stock valued at $194,326,000 after buying an additional 545,907 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CPAY shares. UBS Group decreased their price target on Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Barclays decreased their price objective on Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. 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 report on Thursday, April 24th. Finally, Wall Street Zen downgraded Corpay from a “buy” rating to a “hold” rating in a report on Tuesday, July 8th. Six 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $401.86.

Corpay Stock Performance

NYSE:CPAY opened at $319.59 on Wednesday. The stock has a 50 day simple moving average of $332.60 and a 200 day simple moving average of $341.91. Corpay, Inc. has a 1-year low of $265.06 and a 1-year high of $400.81. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69. The stock has a market cap of $22.53 billion, a P/E ratio of 22.41, a PEG ratio of 1.37 and a beta of 0.95.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. Corpay’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.10 EPS. Research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share 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.