Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Corpay, Inc. (NYSE:CPAY)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Corpay, Inc. (NYSE:CPAY) by 46.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,240 shares of the company’s stock after selling 10,767 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Corpay were worth $3,261,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Epic Trust Investment Advisors LLC lifted its position in Corpay by 4.1% during the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after purchasing an additional 39 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after buying an additional 43 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Corpay by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock worth $352,000 after acquiring an additional 54 shares during the period. Capital Insight Partners LLC grew its holdings in shares of Corpay by 2.5% in the second quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock worth $601,000 after acquiring an additional 55 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in Corpay during the first quarter valued at $25,000. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 1.5 %

Shares of CPAY opened at $315.55 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a fifty day moving average of $283.87. The company has a market capitalization of $22.17 billion, a P/E ratio of 23.48, a PEG ratio of 1.09 and a beta of 1.20. Corpay, Inc. has a 52-week low of $220.39 and a 52-week high of $319.94.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. The firm had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $3.85 EPS. As a group, research analysts anticipate that Corpay, Inc. will post 17.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPAY has been the topic of several research reports. Jefferies Financial Group raised their target price on Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Wells Fargo & Company initiated coverage on shares of Corpay in a report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective on the stock. Raymond James reduced their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets reduced their price objective on Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $332.50.

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.