APG Asset Management N.V. Sells 2,200 Shares of Corpay, Inc. (NYSE:CPAY)

APG Asset Management N.V. cut its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 22.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,797 shares of the company’s stock after selling 2,200 shares during the quarter. APG Asset Management N.V.’s holdings in Corpay were worth $1,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of Corpay during the 1st quarter valued at approximately $31,000. LGT Financial Advisors LLC bought a new stake in Corpay during the 2nd quarter valued at $33,000. Sunbelt Securities Inc. purchased a new stake in shares of Corpay during the first quarter worth $34,000. RFP Financial Group LLC bought a new position in shares of Corpay in the first quarter worth $35,000. Finally, Blue Trust Inc. grew its position in shares of Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CPAY. Jefferies Financial Group raised their target price on Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. increased their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Wells Fargo & Company began coverage on Corpay in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price objective for the company. Bank of America decreased their target price on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI lowered their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $334.58.

Corpay Stock Performance

Shares of CPAY opened at $312.76 on Tuesday. Corpay, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. The business has a 50 day simple moving average of $298.05. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.85 earnings per share. As a group, equities research analysts predict that Corpay, Inc. will post 17.83 earnings per share for the current year.

About Corpay

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.