Rafferty Asset Management LLC Sells 1,736 Shares of Corpay, Inc. $CPAY

Rafferty Asset Management LLC reduced its stake in Corpay, Inc. (NYSE:CPAY) by 7.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,854 shares of the company’s stock after selling 1,736 shares during the period. Rafferty Asset Management LLC’s holdings in Corpay were worth $7,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Meeder Advisory Services Inc. raised its holdings in Corpay by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 678 shares of the company’s stock valued at $236,000 after acquiring an additional 32 shares in the last quarter. Townsquare Capital LLC increased its position in shares of Corpay by 0.7% in the first quarter. Townsquare Capital LLC now owns 4,520 shares of the company’s stock worth $1,576,000 after purchasing an additional 32 shares during the period. Fulton Bank N.A. increased its position in shares of Corpay by 2.1% in the first quarter. Fulton Bank N.A. now owns 1,665 shares of the company’s stock worth $581,000 after purchasing an additional 34 shares during the period. Wedmont Private Capital raised its stake in Corpay by 3.2% in the first quarter. Wedmont Private Capital now owns 1,110 shares of the company’s stock valued at $387,000 after purchasing an additional 34 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Corpay by 0.3% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,666 shares of the company’s stock worth $4,417,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Price Performance

Shares of NYSE:CPAY opened at $325.54 on Thursday. Corpay, Inc. has a one year low of $269.02 and a one year high of $400.81. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $22.99 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.23 and a beta of 0.96. The firm has a 50 day simple moving average of $325.37 and a 200 day simple moving average of $333.02.

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

Analyst Ratings Changes

Several research firms have commented on CPAY. Morgan Stanley decreased their target price on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Robert W. Baird set a $440.00 price target on shares of Corpay in a research report on Tuesday, June 10th. 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 objective for the company. Raymond James Financial set a $392.00 target price on Corpay and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, UBS Group decreased their price target on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.43.

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.