Envestnet Asset Management Inc. Sells 963 Shares of Corpay, Inc. $CPAY

Envestnet Asset Management Inc. lessened its holdings in Corpay, Inc. (NYSE:CPAY) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,241 shares of the company’s stock after selling 963 shares during the period. Envestnet Asset Management Inc. owned 0.11% of Corpay worth $24,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CPAY. Select Equity Group L.P. raised its stake in Corpay by 1,302.3% in the 1st quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company’s stock valued at $425,054,000 after acquiring an additional 1,131,975 shares during the period. JPMorgan Chase & Co. raised its stake in Corpay by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after acquiring an additional 472,147 shares during the period. Nuveen LLC bought a new stake in Corpay in the 1st quarter valued at $104,428,000. Wellington Management Group LLP raised its stake in Corpay by 30.7% in the 1st quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock valued at $444,639,000 after acquiring an additional 299,452 shares during the period. Finally, Invesco Ltd. raised its stake in Corpay by 12.3% in the 1st quarter. Invesco Ltd. now owns 1,894,732 shares of the company’s stock valued at $660,731,000 after acquiring an additional 208,067 shares during the period. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

CPAY opened at $263.30 on Tuesday. The business’s fifty day moving average is $296.29 and its 200-day moving average is $316.61. The firm has a market cap of $18.59 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. 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 $252.84 and a 52-week high of $400.81.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on CPAY shares. Wall Street Zen lowered Corpay from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Jefferies Financial Group reissued a “buy” rating on shares of Corpay in a research report on Monday. Keefe, Bruyette & Woods reduced their target price on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Williams Trading set a $300.00 target price on shares of Corpay in a research report on Monday. Finally, UBS Group reduced their target price 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. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $388.23.

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.