DoubleLine ETF Adviser LP Sells 44 Shares of Corpay, Inc. (NYSE:CPAY)

DoubleLine ETF Adviser LP lessened its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 3.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,191 shares of the company’s stock after selling 44 shares during the period. DoubleLine ETF Adviser LP’s holdings in Corpay were worth $317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CPAY. Headlands Technologies LLC acquired a new stake in shares of Corpay in the 1st quarter valued at about $31,000. Sunbelt Securities Inc. bought a new stake in Corpay in the 1st quarter valued at approximately $34,000. RFP Financial Group LLC bought a new stake in Corpay in the 1st quarter valued at approximately $35,000. LGT Financial Advisors LLC acquired a new position in Corpay during the 2nd quarter worth approximately $33,000. Finally, Innealta Capital LLC bought a new position in shares of Corpay during the 2nd quarter worth approximately $36,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Trading Up 0.6 %

CPAY opened at $306.57 on Friday. The firm has a fifty day simple moving average of $297.20. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $319.94. The company has a market cap of $21.29 billion, a PE ratio of 22.81, a PEG ratio of 1.24 and a beta of 1.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same period in the prior year, the firm earned $3.85 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. Equities analysts forecast that Corpay, Inc. will post 17.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company began 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 on the stock. Jefferies Financial Group boosted their price target on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Evercore ISI decreased their price objective on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Raymond James dropped their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Three research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $334.58.

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.