Corpay, Inc. (NYSE:CPAY) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 37.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,552 shares of the company’s stock after selling 17,115 shares during the period. Ameriprise Financial Inc.’s holdings in Corpay were worth $9,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CPAY. Allspring Global Investments Holdings LLC boosted its stake in shares of Corpay by 17.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock valued at $8,067,000 after purchasing an additional 3,504 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Corpay by 70.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company’s stock worth $1,689,000 after buying an additional 2,059 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Corpay by 68.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company’s stock valued at $1,342,000 after buying an additional 1,611 shares during the last quarter. Journey Strategic Wealth LLC acquired a new stake in shares of Corpay during the fourth quarter valued at about $499,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Corpay during the fourth quarter worth about $28,632,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Trading Down 0.1%

Shares of NYSE CPAY opened at $348.39 on Tuesday. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a market cap of $24.56 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock’s 50 day simple moving average is $328.49 and its 200 day simple moving average is $350.63.

Corpay (NYSE:CPAY) last issued its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.50 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the company earned $4.10 earnings per share. Equities research analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays cut their target price on Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company reduced their price objective on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their price objective on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley upped their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $414.00 price target (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $395.07.

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.