Corpay, Inc. (NYSE:CPAY) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 22.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,554 shares of the company’s stock after selling 3,360 shares during the period. Texas Permanent School Fund Corp’s holdings in Corpay were worth $3,078,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Choreo LLC acquired a new position in Corpay during the 2nd quarter worth about $284,000. Quest Partners LLC purchased a new stake in Corpay during the 2nd quarter worth about $364,000. Paralel Advisors LLC purchased a new stake in Corpay during the 2nd quarter worth about $1,971,000. Anchor Capital Advisors LLC increased its holdings in Corpay by 42.4% during the 2nd quarter. Anchor Capital Advisors LLC now owns 65,831 shares of the company’s stock worth $17,538,000 after purchasing an additional 19,607 shares during the period. Finally, Custom Index Systems LLC increased its holdings in Corpay by 29.3% during the 2nd quarter. Custom Index Systems LLC now owns 1,562 shares of the company’s stock worth $416,000 after purchasing an additional 354 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CPAY shares. JPMorgan Chase & Co. upped their price target on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Wells Fargo & Company started coverage on Corpay in a report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price target on the stock. Raymond James cut their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group increased their price objective on Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Three investment 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’s stock. Based on data from MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and an average target price of $332.50.

Corpay Stock Up 0.5 %

NYSE:CPAY opened at $307.43 on Monday. The stock’s 50 day moving average price is $292.85. The stock has a market cap of $21.34 billion, a P/E ratio of 22.87, a PEG ratio of 1.22 and a beta of 1.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay, Inc. has a 52-week low of $220.39 and a 52-week high of $319.94.

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

Corpay Company 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.