Robeco Institutional Asset Management B.V. cut its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 11.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,557 shares of the company's stock after selling 10,339 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.11% of Corpay worth $23,944,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in CPAY. Vanguard Group Inc. purchased a new stake in shares of Corpay during the 1st quarter valued at $2,431,089,000. JPMorgan Chase & Co. acquired a new stake in Corpay during the first quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new stake in Corpay during the first quarter worth about $1,355,377,000. Boston Partners purchased a new position in shares of Corpay in the 1st quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new position in shares of Corpay in the 1st quarter valued at about $553,279,000. 98.84% of the stock is owned by institutional investors and hedge funds.
CPAY has been the topic of several research reports. Wells Fargo & Company raised their price target on shares of Corpay from $285.00 to $320.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. BMO Capital Markets lifted their target price on shares of Corpay from $350.00 to $390.00 and gave the company an "outperform" rating in a report on Thursday, October 3rd. Bank of America increased their price target on Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Barclays boosted their price objective on Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Finally, Raymond James lowered their target price on Corpay from $330.00 to $311.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Corpay presently has an average rating of "Moderate Buy" and an average price target of $353.46.
Read Our Latest Research Report on CPAY
Shares of NYSE:CPAY opened at $330.81 on Wednesday. The firm has a market cap of $22.97 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The company has a fifty day simple moving average of $323.31 and a 200 day simple moving average of $295.32. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay, Inc. has a 12-month low of $221.37 and a 12-month high of $355.47.
Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.85 EPS. On average, equities research analysts anticipate that Corpay, Inc. will post 17.96 EPS for the current fiscal year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Corpay, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corpay wasn't on the list.
While Corpay currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.