Hartford Investment Management Co. Sells 131 Shares of Corpay, Inc. (NYSE:CPAY)

Hartford Investment Management Co. lessened its holdings in Corpay, Inc. (NYSE:CPAY) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,379 shares of the company’s stock after selling 131 shares during the period. Hartford Investment Management Co.’s holdings in Corpay were worth $1,370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. bought a new position in Corpay in the first quarter worth approximately $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in shares of Corpay in the 1st quarter worth $1,429,445,000. Price T Rowe Associates Inc. MD bought a new position in Corpay in the 1st quarter worth $1,355,377,000. Boston Partners purchased a new position in Corpay during the first quarter valued at $553,667,000. Finally, Sustainable Growth Advisers LP bought a new stake in Corpay during the first quarter valued at about $553,279,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CPAY shares. Wells Fargo & Company lifted their price objective on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Barclays raised their price objective on shares of Corpay from $330.00 to $385.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group upped their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $353.33.

Corpay Trading Down 0.9 %

Shares of CPAY stock opened at $340.72 on Friday. The stock’s 50-day moving average price is $317.46 and its 200-day moving average price is $293.57. Corpay, Inc. has a 12-month low of $220.39 and a 12-month high of $355.47. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. 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 (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. During the same period in the prior year, the firm earned $3.85 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts predict that Corpay, Inc. will post 17.83 EPS for the current fiscal year.

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.