Corpay, Inc. (NYSE:CPAY) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its stake in Corpay, Inc. (NYSE:CPAY) by 63.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,962 shares of the company’s stock after selling 24,507 shares during the quarter. QRG Capital Management Inc.’s holdings in Corpay were worth $4,367,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CPAY. Chevy Chase Trust Holdings LLC acquired a new position in shares of Corpay in the 1st quarter valued at $12,335,000. Empirical Finance LLC acquired a new position in Corpay in the first quarter valued at $829,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Corpay during the first quarter valued at about $1,013,000. EP Wealth Advisors LLC acquired a new stake in Corpay during the first quarter worth about $949,000. Finally, Swedbank AB raised its holdings in shares of Corpay by 26.9% in the 2nd quarter. Swedbank AB now owns 127,217 shares of the company’s stock worth $33,892,000 after purchasing an additional 27,000 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPAY. JPMorgan Chase & Co. increased their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays raised their target price on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Wells Fargo & Company upped their price target on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Four equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.46.

Corpay Stock Up 0.3 %

Shares of NYSE CPAY opened at $330.81 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Corpay, Inc. has a 1 year low of $221.37 and a 1 year high of $355.47. The stock’s 50-day simple moving average is $323.31 and its 200-day simple moving average is $295.32. The firm has a market cap of $22.97 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.30 and a beta of 1.21.

Corpay (NYSE:CPAY) last announced 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 company had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. Corpay’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.85 EPS. As a group, equities analysts anticipate that Corpay, Inc. will post 17.96 earnings per share for the current fiscal year.

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.