Corpay, Inc. (NYSE:CPAY) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in Corpay, Inc. (NYSE:CPAY) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,212 shares of the company’s stock after selling 1,931 shares during the period. Rhumbline Advisers owned about 0.20% of Corpay worth $37,887,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of Corpay in the first quarter worth $25,000. Headlands Technologies LLC acquired a new position in shares of Corpay in the first quarter worth $31,000. Sunbelt Securities Inc. acquired a new position in shares of Corpay in the first quarter worth $34,000. RFP Financial Group LLC acquired a new position in shares of Corpay in the first quarter worth $35,000. Finally, Innealta Capital LLC purchased a new stake in shares of Corpay during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE CPAY opened at $304.68 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $21.41 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.26 and a beta of 1.22. Corpay, Inc. has a one year low of $220.39 and a one year high of $319.94. The company has a fifty day simple moving average of $288.18.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The company had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. Corpay’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.85 earnings per share. Research analysts predict that Corpay, Inc. will post 17.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPAY. Evercore ISI decreased their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Barclays decreased their price objective on shares of Corpay from $355.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Bank of America decreased their price objective on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company assumed coverage on shares of Corpay in a research report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $332.50.

About Corpay

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.