Chicago Partners Investment Group LLC Trims Stake in Corpay, Inc. (NYSE:CPAY)

Chicago Partners Investment Group LLC lowered its position in Corpay, Inc. (NYSE:CPAY) by 3.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,007 shares of the company’s stock after selling 39 shares during the period. Chicago Partners Investment Group LLC’s holdings in Corpay were worth $315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chevy Chase Trust Holdings LLC purchased a new stake in shares of Corpay in the first quarter valued at $12,335,000. Empirical Finance LLC purchased a new stake in shares of Corpay in the first quarter valued at $829,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Corpay in the first quarter valued at $1,013,000. EP Wealth Advisors LLC purchased a new stake in shares of Corpay in the first quarter valued at $949,000. Finally, Swedbank AB raised its stake in shares of Corpay by 26.9% in the second quarter. Swedbank AB now owns 127,217 shares of the company’s stock valued at $33,892,000 after acquiring an additional 27,000 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 0.3 %

CPAY stock opened at $330.81 on Wednesday. The firm has a 50 day moving average of $323.31 and a 200 day moving average of $295.32. The stock has a market capitalization of $22.97 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. 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 $221.37 and a 52 week high of $355.47.

Corpay (NYSE:CPAY) last released 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. The company had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. Corpay’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the business earned $3.85 EPS. Sell-side analysts forecast that Corpay, Inc. will post 17.96 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms 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. Wells Fargo & Company raised their price target on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Finally, Barclays raised their price target on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Four equities research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $353.46.

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.