Corpay, Inc. (NYSE:CPAY) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in Corpay, Inc. (NYSE:CPAY) by 84.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,817 shares of the company’s stock after selling 9,595 shares during the period. SG Americas Securities LLC’s holdings in Corpay were worth $568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Corpay in the first quarter worth approximately $33,840,000. GAMMA Investing LLC purchased a new position in Corpay during the first quarter worth approximately $149,000. Pensionfund Sabic acquired a new position in shares of Corpay in the 1st quarter valued at $1,327,000. Massmutual Trust Co. FSB ADV acquired a new position in shares of Corpay in the 1st quarter valued at $61,000. Finally, Fulton Bank N.A. purchased a new stake in shares of Corpay during the 1st quarter valued at $441,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CPAY shares. Evercore ISI cut their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued 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 research report on Tuesday, September 3rd. Jefferies Financial Group lifted their price target on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, BMO Capital Markets increased their price objective on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Three 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 company’s stock. According to data from MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and an average price target of $346.25.

Corpay Stock Performance

Corpay stock opened at $342.54 on Wednesday. Corpay, Inc. has a 12-month low of $220.39 and a 12-month high of $343.86. 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 company has a market capitalization of $24.07 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The firm’s fifty day moving average price is $308.24 and its 200 day moving average price is $291.36.

Corpay (NYSE:CPAY) last announced its 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 business had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.85 earnings per share. On average, research analysts forecast that Corpay, Inc. will post 17.83 EPS for the current fiscal year.

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.