University of Texas Texas AM Investment Management Co. Has $29,000 Position in Corpay, Inc. (NYSE:CPAY)

University of Texas Texas AM Investment Management Co. cut its position in shares of Corpay, Inc. (NYSE:CPAY) by 33.3% during the second quarter, Holdings Channel reports. The institutional investor owned 110 shares of the company’s stock after selling 55 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Corpay were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPAY. Los Angeles Capital Management LLC acquired a new position in shares of Corpay in the 1st quarter valued at $33,840,000. GAMMA Investing LLC acquired a new stake in Corpay during the first quarter valued at approximately $149,000. Pensionfund Sabic bought a new stake in shares of Corpay in the 1st quarter valued at approximately $1,327,000. Beese Fulmer Investment Management Inc. bought a new stake in shares of Corpay in the 1st quarter valued at approximately $1,398,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in shares of Corpay in the 1st quarter worth approximately $61,000. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CPAY. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Evercore ISI cut their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Bank of America reduced their price target on shares of Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Jefferies Financial Group raised their price objective on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

Corpay Price Performance

Shares of Corpay stock opened at $316.66 on Thursday. 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 50 day moving average of $299.18. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The firm has a market capitalization of $22.25 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 1.24 and a beta of 1.22.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating 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 company had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. During the same period last year, the firm earned $3.85 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, sell-side analysts expect that Corpay, Inc. will post 17.83 EPS for the current year.

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.