Sentry Investment Management LLC Sells 66 Shares of Corpay, Inc. (NYSE:CPAY)

Sentry Investment Management LLC decreased its stake in shares of Corpay, Inc. (NYSE:CPAY) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 322 shares of the company’s stock after selling 66 shares during the period. Sentry Investment Management LLC’s holdings in Corpay were worth $86,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. purchased a new position in Corpay in the first quarter worth $2,431,089,000. JPMorgan Chase & Co. bought a new position in Corpay in the 1st quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD bought a new position in Corpay in the 1st quarter worth about $1,355,377,000. Boston Partners bought a new position in Corpay in the 1st quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP bought a new position in Corpay in the 1st quarter worth about $553,279,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of CPAY stock opened at $307.43 on Friday. The stock has a market cap of $21.34 billion, a PE ratio of 22.87, a PEG ratio of 1.22 and a beta of 1.22. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $319.94. The firm’s 50-day moving average is $292.85. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on CPAY shares. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. Wells Fargo & Company assumed coverage on Corpay in a report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective for the company. Evercore ISI cut their price objective on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group upped their price objective on Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.