Park Avenue Securities LLC Cuts Position in Corpay, Inc. $CPAY

Park Avenue Securities LLC decreased its position in Corpay, Inc. (NYSE:CPAY) by 26.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,387 shares of the company’s stock after selling 511 shares during the quarter. Park Avenue Securities LLC’s holdings in Corpay were worth $460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. grew its stake in shares of Corpay by 5.0% in the first quarter. Meeder Advisory Services Inc. now owns 678 shares of the company’s stock worth $236,000 after acquiring an additional 32 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of Corpay by 0.7% in the first quarter. Townsquare Capital LLC now owns 4,520 shares of the company’s stock worth $1,576,000 after acquiring an additional 32 shares in the last quarter. Fulton Bank N.A. grew its stake in shares of Corpay by 2.1% in the first quarter. Fulton Bank N.A. now owns 1,665 shares of the company’s stock worth $581,000 after acquiring an additional 34 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Corpay by 3.2% in the first quarter. Wedmont Private Capital now owns 1,110 shares of the company’s stock worth $387,000 after acquiring an additional 34 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Corpay by 0.3% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,666 shares of the company’s stock worth $4,417,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE CPAY opened at $295.33 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. 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 $20.85 billion, a PE ratio of 20.06, a P/E/G ratio of 1.12 and a beta of 1.00. The company has a fifty day moving average of $315.94 and a two-hundred day moving average of $324.68.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $4.55 earnings per share. Corpay’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a research note on Thursday, July 17th. They issued a “buy” rating and a $390.00 price target for the company. UBS Group dropped their price target on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Corpay from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Morgan Stanley lowered their target price on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $399.43.

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.