Mercer Global Advisors Inc. ADV Trims Stake in Corpay, Inc. (NYSE:CPAY)

Mercer Global Advisors Inc. ADV lessened its holdings in Corpay, Inc. (NYSE:CPAY) by 37.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,731 shares of the company’s stock after selling 13,051 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Corpay were worth $6,184,000 as of its most recent filing with the Securities & Exchange Commission.

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

Corpay Stock Down 1.8 %

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

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

Analysts Set New Price Targets

A number of analysts have issued reports on CPAY shares. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group increased their target price on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Raymond James reduced their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Bank of America lowered their target price on Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Three investment 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

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.