Corpay, Inc. (NYSE:CPAY) Position Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Corpay, Inc. (NYSE:CPAY) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,981 shares of the company’s stock after selling 112 shares during the period. Retirement Systems of Alabama’s holdings in Corpay were worth $5,224,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CPAY. Invesco Ltd. lifted its holdings in shares of Corpay by 163.7% in 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 acquiring an additional 1,000,699 shares during the period. Norges Bank acquired a new position in Corpay during the 4th quarter worth $241,739,000. GAMMA Investing LLC boosted its position in 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 acquiring an additional 558,236 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Corpay during the 4th quarter worth $134,950,000. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 2.4%

Shares of Corpay stock opened at $329.45 on Wednesday. The stock’s fifty day moving average is $328.49 and its 200-day moving average is $343.89. The firm has a market capitalization of $23.22 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.35 and a beta of 0.96. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 12-month low of $264.08 and a 12-month high of $400.81.

Corpay (NYSE:CPAY) last announced its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 41.61% and a net margin of 25.15%. Corpay’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.10 earnings per share. Equities analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Corpay from a “buy” rating to a “hold” rating in a research report on Sunday. Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. Barclays lowered their target price on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. UBS Group lowered their target price on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, Oppenheimer started coverage on shares of Corpay in a research note on Monday, April 28th. They set a “market perform” rating on the stock. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $398.07.

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.