Corpay, Inc. $CPAY Shares Sold by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC reduced its position in Corpay, Inc. (NYSE:CPAY) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,046 shares of the company’s stock after selling 156 shares during the quarter. Corpay comprises approximately 1.2% of Agate Pass Investment Management LLC’s portfolio, making the stock its 24th biggest position. Agate Pass Investment Management LLC’s holdings in Corpay were worth $3,002,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CPAY. Park Avenue Securities LLC boosted its holdings in shares of Corpay by 15.2% in the first quarter. Park Avenue Securities LLC now owns 1,898 shares of the company’s stock valued at $662,000 after acquiring an additional 250 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Corpay by 9.9% in the first quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock valued at $560,000 after acquiring an additional 145 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Corpay by 265.4% in the first quarter. SG Americas Securities LLC now owns 12,636 shares of the company’s stock valued at $4,406,000 after acquiring an additional 9,178 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Corpay by 1.8% during the first quarter. Handelsbanken Fonder AB now owns 21,503 shares of the company’s stock worth $7,499,000 after purchasing an additional 383 shares during the period. Finally, CX Institutional acquired a new stake in shares of Corpay during the first quarter worth $157,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CPAY. Wall Street Zen downgraded Corpay from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James Financial set a $392.00 price target on Corpay and gave the stock an “outperform” rating in a report on Thursday, August 7th. Morgan Stanley decreased their price target on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. UBS Group decreased their price target on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Corpay in a report on Thursday, July 17th. They set a “buy” rating and a $390.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and an average target price of $396.21.

Corpay Trading Down 3.6%

NYSE:CPAY opened at $280.37 on Friday. The stock has a fifty day moving average price of $308.11 and a two-hundred day moving average price of $321.07. The stock has a market capitalization of $19.80 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.10 and a beta of 0.97. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81.

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, topping the consensus estimate of $5.11 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.Corpay’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.55 earnings per share. As a group, sell-side analysts anticipate that Corpay, Inc. will post 19.76 earnings per share 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.