Ethic Inc. Trims Position in Corpay, Inc. (NYSE:CPAY)

Ethic Inc. decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,195 shares of the company’s stock after selling 207 shares during the quarter. Ethic Inc.’s holdings in Corpay were worth $1,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPAY. Vanguard Group Inc. lifted its position in Corpay by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock worth $2,623,702,000 after buying an additional 120,688 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock valued at $1,976,651,000 after acquiring an additional 1,000,699 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after acquiring an additional 120,578 shares during the last quarter. Boston Partners lifted its holdings in shares of Corpay by 6.4% during the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock worth $694,847,000 after acquiring an additional 122,380 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Corpay by 1.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company’s stock worth $659,890,000 after acquiring an additional 20,937 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CPAY. Raymond James reaffirmed an “outperform” rating and set a $414.00 price target (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Citigroup assumed coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Barclays cut their target price on Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. UBS Group lowered their price target on Corpay from $400.00 to $365.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada raised their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $395.07.

Corpay Price Performance

CPAY stock opened at $354.14 on Wednesday. The firm has a market cap of $24.88 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The stock has a 50-day simple moving average of $326.92 and a 200-day simple moving average of $350.03.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Corpay had a return on equity of 41.46% and a net margin of 25.25%. Corpay’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.10 EPS. On average, equities analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.