Corpay, Inc. $CPAY Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its stake in shares of Corpay, Inc. (NYSE:CPAY) by 0.2% during the second quarter, HoldingsChannel reports. The firm owned 33,457 shares of the company’s stock after selling 53 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Corpay were worth $10,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Hazlett Burt & Watson Inc. acquired a new position in Corpay during the 2nd quarter valued at approximately $33,000. Ameritas Advisory Services LLC acquired a new position in Corpay during the 2nd quarter valued at approximately $37,000. Zions Bancorporation National Association UT acquired a new position in Corpay during the 1st quarter valued at approximately $41,000. Larson Financial Group LLC increased its stake in Corpay by 309.5% during the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock valued at $60,000 after purchasing an additional 130 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Corpay by 19.4% in the second quarter. Blue Trust Inc. now owns 246 shares of the company’s stock worth $82,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CPAY shares. Raymond James Financial set a $392.00 price objective on shares of Corpay and gave the stock an “outperform” rating in a research note on Thursday, August 7th. 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 research note on Thursday, August 7th. Keefe, Bruyette & Woods cut their price objective on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a research note on Thursday, July 17th. They issued a “buy” rating and a $390.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Corpay in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $395.58.

Corpay Stock Performance

Shares of NYSE CPAY opened at $284.24 on Friday. The company’s fifty day moving average price is $303.10 and its 200 day moving average price is $317.97. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81. The company has a market capitalization of $20.07 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.07 and a beta of 0.97. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current 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 (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $4.55 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current 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.