Corpay, Inc. (NYSE:CPAY) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in Corpay, Inc. (NYSE:CPAY) by 10.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,294 shares of the company’s stock after selling 17,124 shares during the quarter. Hsbc Holdings PLC owned approximately 0.21% of Corpay worth $38,552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in Corpay during the 1st quarter worth $33,840,000. GAMMA Investing LLC purchased a new position in shares of Corpay during the first quarter worth about $149,000. Pensionfund Sabic purchased a new position in shares of Corpay during the first quarter worth about $1,327,000. Beese Fulmer Investment Management Inc. acquired a new position in Corpay in the 1st quarter valued at about $1,398,000. Finally, Massmutual Trust Co. FSB ADV purchased a new stake in Corpay during the 1st quarter valued at approximately $61,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America lowered their target price on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Evercore ISI reduced their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research note on Thursday, August 8th. Finally, Wells Fargo & Company started coverage on shares of Corpay in a research report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Corpay has an average rating of “Moderate Buy” and an average target price of $334.58.

Corpay Price Performance

Shares of NYSE:CPAY opened at $307.21 on Friday. The stock has a market cap of $21.59 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day moving average price is $296.06. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94.

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