Corpay, Inc. $CPAY Position Cut by BloombergSen Inc.

BloombergSen Inc. decreased its position in Corpay, Inc. (NYSE:CPAY) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 367,581 shares of the company’s stock after selling 4,498 shares during the quarter. Corpay accounts for approximately 7.5% of BloombergSen Inc.’s portfolio, making the stock its 3rd largest position. BloombergSen Inc.’s holdings in Corpay were worth $121,971,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CPAY. Select Equity Group L.P. increased its position in shares of Corpay by 1,302.3% during the first quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company’s stock worth $425,054,000 after acquiring an additional 1,131,975 shares during the period. Bessemer Group Inc. increased its position in shares of Corpay by 4,811.9% during the first quarter. Bessemer Group Inc. now owns 557,252 shares of the company’s stock worth $194,326,000 after acquiring an additional 545,907 shares during the period. JPMorgan Chase & Co. increased its position in shares of Corpay by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock worth $1,648,970,000 after acquiring an additional 472,147 shares during the period. Nuveen LLC purchased a new stake in shares of Corpay during the first quarter worth $104,428,000. Finally, Wellington Management Group LLP increased its position in shares of Corpay by 30.7% during the first quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company’s stock worth $444,639,000 after acquiring an additional 299,452 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE CPAY opened at $286.82 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81. The company has a market capitalization of $20.25 billion, a PE ratio of 19.48, a P/E/G ratio of 1.09 and a beta of 0.97. The company has a fifty day moving average of $313.86 and a two-hundred day moving average of $324.17.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $4.55 earnings per share. Corpay’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 price objective on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday. Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. UBS Group lowered their target price on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Finally, Morgan Stanley lowered their target price on shares of Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $396.21.

About Corpay

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.