Amalgamated Bank Reduces Stake in Corpay, Inc. (NYSE:CPAY)

Amalgamated Bank lessened its stake in shares of Corpay, Inc. (NYSE:CPAY) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,918 shares of the company’s stock after selling 270 shares during the quarter. Amalgamated Bank’s holdings in Corpay were worth $4,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Albion Financial Group UT purchased a new position in Corpay during the third quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new position in shares of Corpay during the 1st quarter valued at $31,000. RFP Financial Group LLC purchased a new position in shares of Corpay during the 1st quarter valued at $35,000. LGT Financial Advisors LLC bought a new position in shares of Corpay in the second quarter worth $33,000. Finally, Innealta Capital LLC purchased a new stake in shares of Corpay in the second quarter worth $36,000. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Raymond James lowered their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Finally, Jefferies Financial Group lifted their price objective on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Four 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $353.46.

Corpay Trading Down 0.7 %

NYSE CPAY opened at $346.50 on Friday. The stock has a 50-day moving average of $324.21 and a 200-day moving average of $295.70. 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, Inc. has a 1-year low of $221.37 and a 1-year high of $355.47. The firm has a market cap of $24.06 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same quarter in the prior year, the firm posted $3.85 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Corpay, Inc. will post 17.96 EPS for the current year.

Corpay 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.