TD Asset Management Inc Decreases Holdings in Corpay, Inc. $CPAY

TD Asset Management Inc cut its stake in shares of Corpay, Inc. (NYSE:CPAY) by 15.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 132,724 shares of the company’s stock after selling 24,810 shares during the quarter. TD Asset Management Inc’s holdings in Corpay were worth $44,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Alpine Woods Capital Investors LLC increased its stake in shares of Corpay by 20.1% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 7,783 shares of the company’s stock worth $2,583,000 after purchasing an additional 1,300 shares in the last quarter. NorthRock Partners LLC increased its stake in shares of Corpay by 18.4% in the 2nd quarter. NorthRock Partners LLC now owns 889 shares of the company’s stock worth $295,000 after purchasing an additional 138 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Corpay by 13.2% in the 2nd quarter. Verdence Capital Advisors LLC now owns 18,972 shares of the company’s stock worth $6,295,000 after purchasing an additional 2,219 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Corpay by 4.7% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 695 shares of the company’s stock worth $231,000 after purchasing an additional 31 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Corpay by 77.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,153 shares of the company’s stock worth $714,000 after purchasing an additional 938 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CPAY shares. 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 note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research note on Thursday, July 17th. They issued a “buy” rating and a $390.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corpay in a report on Wednesday, October 8th. Morgan Stanley dropped their target price on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $395.58.

Corpay Stock Down 3.5%

CPAY opened at $277.70 on Friday. The firm has a 50-day simple moving average of $305.59 and a two-hundred day simple moving average of $319.20. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The company has a market capitalization of $19.61 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The business’s revenue was up 12.9% on a year-over-year basis. Analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.