Envestnet Asset Management Inc. Sells 2,468 Shares of Corpay, Inc. (NYSE:CPAY)

Envestnet Asset Management Inc. lessened its position in Corpay, Inc. (NYSE:CPAY) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,204 shares of the company’s stock after selling 2,468 shares during the period. Envestnet Asset Management Inc. owned 0.11% of Corpay worth $26,225,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its position in Corpay by 9.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,524 shares of the company’s stock valued at $516,000 after purchasing an additional 134 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Corpay by 70.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company’s stock valued at $45,000 after purchasing an additional 55 shares in the last quarter. Natixis Advisors LLC raised its stake in Corpay by 12.2% in the fourth quarter. Natixis Advisors LLC now owns 30,815 shares of the company’s stock worth $10,428,000 after buying an additional 3,362 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Corpay by 2.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,768 shares of the company’s stock worth $1,614,000 after buying an additional 110 shares during the period. Finally, Gallacher Capital Management LLC boosted its position in Corpay by 43.8% during the 4th quarter. Gallacher Capital Management LLC now owns 1,061 shares of the company’s stock valued at $359,000 after acquiring an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 0.6%

NYSE:CPAY opened at $326.35 on Tuesday. Corpay, Inc. has a one year low of $265.06 and a one year high of $400.81. The business has a fifty day moving average price of $332.75 and a 200-day moving average price of $342.07. The firm has a market capitalization of $23.00 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 1.36 and a beta of 0.95. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.10 and a quick ratio of 1.10.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.50 by $0.01. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the company posted $4.10 EPS. The firm’s revenue was up 7.5% on a year-over-year basis. Sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company cut their price target on Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Oppenheimer assumed coverage on Corpay in a research note on Monday, April 28th. They issued a “market perform” rating on the stock. Wall Street Zen lowered Corpay from a “buy” rating to a “hold” rating in a research report on Tuesday, July 8th. Barclays cut their price objective on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Robert W. Baird set a $440.00 target price on shares of Corpay in a report on Tuesday, June 10th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $401.86.

Corpay 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.