Forsta AP Fonden Sells 2,000 Shares of Corpay, Inc. (NYSE:CPAY)

Forsta AP Fonden lessened its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 14.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,500 shares of the company’s stock after selling 2,000 shares during the period. Forsta AP Fonden’s holdings in Corpay were worth $3,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Corpay during the 1st quarter valued at about $31,000. LGT Financial Advisors LLC purchased a new position in shares of Corpay during the second quarter valued at approximately $33,000. Sunbelt Securities Inc. bought a new stake in shares of Corpay in the 1st quarter worth approximately $34,000. RFP Financial Group LLC purchased a new stake in shares of Corpay in the 1st quarter worth approximately $35,000. Finally, Blue Trust Inc. grew its stake in shares of Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Trading Up 0.5 %

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

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 during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. Corpay’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.85 earnings per share. As a group, research analysts forecast that Corpay, Inc. will post 17.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on CPAY shares. Jefferies Financial Group lifted their price objective on Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Bank of America dropped their price target on shares of Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.