Corpay, Inc. (NYSE:CPAY) Holdings Decreased by Lyrical Asset Management LP

Lyrical Asset Management LP decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 723,096 shares of the company’s stock after selling 16,523 shares during the quarter. Corpay accounts for approximately 3.9% of Lyrical Asset Management LP’s holdings, making the stock its 13th biggest position. Lyrical Asset Management LP’s holdings in Corpay were worth $252,158,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cerity Partners LLC grew its holdings in shares of Corpay by 6.2% during the first quarter. Cerity Partners LLC now owns 33,385 shares of the company’s stock valued at $11,642,000 after buying an additional 1,942 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in shares of Corpay during the first quarter valued at $213,000. GAMMA Investing LLC grew its holdings in shares of Corpay by 9.9% during the first quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock valued at $560,000 after buying an additional 145 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Corpay by 9.2% during the first quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company’s stock valued at $1,016,000 after buying an additional 246 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Corpay by 15.2% during the first quarter. Park Avenue Securities LLC now owns 1,898 shares of the company’s stock valued at $662,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of NYSE:CPAY opened at $316.39 on Thursday. Corpay, Inc. has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. The business has a 50-day moving average of $328.28 and a two-hundred day moving average of $337.21. The stock has a market capitalization of $22.34 billion, a P/E ratio of 21.49, a P/E/G ratio of 1.18 and a beta of 0.96. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm earned $4.55 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CPAY shares. Morgan Stanley set a $356.00 price target on Corpay and gave the company an “equal weight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 price objective for the company. Wells Fargo & Company reduced their price objective on Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. UBS Group reduced their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, Robert W. Baird set a $440.00 price objective on Corpay in a research report on Tuesday, June 10th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $396.33.

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.