Farther Finance Advisors LLC Has $174,000 Position in Corpay, Inc. $CPAY

Farther Finance Advisors LLC lowered its position in Corpay, Inc. (NYSE:CPAY) by 14.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 523 shares of the company’s stock after selling 86 shares during the quarter. Farther Finance Advisors LLC’s holdings in Corpay were worth $174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Corpay by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock worth $2,745,398,000 after acquiring an additional 119,987 shares during the period. JPMorgan Chase & Co. lifted its holdings in Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after purchasing an additional 472,147 shares during the last quarter. Boston Partners lifted its holdings in Corpay by 5.8% during the 1st quarter. Boston Partners now owns 2,163,940 shares of the company’s stock valued at $751,371,000 after purchasing an additional 118,542 shares during the last quarter. Invesco Ltd. lifted its holdings in Corpay by 12.3% during the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock valued at $660,731,000 after purchasing an additional 208,067 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Corpay by 30.7% during the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock valued at $444,639,000 after purchasing an additional 299,452 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Down 0.4%

Shares of NYSE CPAY opened at $286.82 on Thursday. The stock has a market cap of $20.25 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.09 and a beta of 0.97. The firm has a 50 day moving average price of $313.86 and a 200 day moving average price of $324.17. 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, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $4.55 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts expect that Corpay, Inc. will post 19.76 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on CPAY. Wall Street Zen upgraded shares of Corpay from a “hold” rating to a “buy” rating in a research report on Sunday. UBS Group lowered their price objective on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Keefe, Bruyette & Woods lowered their price target on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 price target for the company. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $396.21.

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.