Envestnet Portfolio Solutions Inc. Has $673,000 Position in Corpay, Inc. $CPAY

Envestnet Portfolio Solutions Inc. decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 15.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,027 shares of the company’s stock after selling 373 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Corpay were worth $673,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CPAY. Vanguard Group Inc. lifted its stake in shares of Corpay by 1.5% during the first quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock valued at $2,745,398,000 after acquiring an additional 119,987 shares during the period. JPMorgan Chase & Co. raised its holdings in Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock worth $1,648,970,000 after purchasing an additional 472,147 shares during the last quarter. Boston Partners raised its holdings in Corpay by 5.8% during the 1st quarter. Boston Partners now owns 2,163,940 shares of the company’s stock worth $751,371,000 after purchasing an additional 118,542 shares during the last quarter. Invesco Ltd. lifted its position in Corpay by 12.3% during the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock valued at $660,731,000 after purchasing an additional 208,067 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Corpay by 30.7% in the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock valued at $444,639,000 after purchasing an additional 299,452 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Morgan Stanley cut their price target on Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Keefe, Bruyette & Woods decreased their price objective on Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and an average price target of $395.58.

Corpay Price Performance

Shares of CPAY opened at $286.24 on Tuesday. The stock has a 50 day simple moving average of $304.93 and a 200 day simple moving average of $318.46. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $20.21 billion, a PE ratio of 19.45, a P/E/G ratio of 1.08 and a beta of 0.97.

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