APG Asset Management N.V. reduced its holdings in Corpay, Inc. (NYSE:CPAY – Free Report) by 22.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,797 shares of the company’s stock after selling 2,200 shares during the quarter. APG Asset Management N.V.’s holdings in Corpay were worth $1,938,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in Corpay in the first quarter valued at $33,840,000. GAMMA Investing LLC bought a new stake in shares of Corpay during the 1st quarter valued at about $149,000. Pensionfund Sabic purchased a new position in shares of Corpay during the first quarter valued at about $1,327,000. Beese Fulmer Investment Management Inc. bought a new position in Corpay in the first quarter worth about $1,398,000. Finally, Massmutual Trust Co. FSB ADV bought a new position in Corpay in the first quarter worth about $61,000. 98.84% of the stock is owned by hedge funds and other institutional investors.
Corpay Stock Up 0.5 %
Shares of NYSE CPAY opened at $312.76 on Tuesday. The stock has a market cap of $21.98 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.24 and a beta of 1.22. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $319.94. 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 50 day moving average price of $298.05.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group increased their price objective on Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Raymond James dropped their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Bank of America lowered their price target on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Three equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $334.58.
Check Out Our Latest Stock Analysis on Corpay
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.
Featured Articles
- Five stocks we like better than Corpay
- The 3 Best Retail Stocks to Shop for in August
- TJX Stock: A Buying Opportunity Before the Holiday Rush
- What is Short Interest? How to Use It
- Micron’s Blowout Results Pave the Way for Seagate’s Stock Surge
- Investing in Construction Stocks
- Zeta Global’s AI Cloud: Your Secret Weapon for Massive Growth
Want to see what other hedge funds are holding CPAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corpay, Inc. (NYSE:CPAY – Free Report).
Receive News & Ratings for Corpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corpay and related companies with MarketBeat.com's FREE daily email newsletter.