BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 818 Shares of Corpay, Inc. $CPAY

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 13.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,448 shares of the company’s stock after selling 818 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Corpay were worth $1,808,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC grew its holdings in Corpay by 6.2% in the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company’s stock worth $11,642,000 after acquiring an additional 1,942 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Corpay by 54.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,590 shares of the company’s stock worth $3,693,000 after acquiring an additional 3,739 shares during the last quarter. Nordea Investment Management AB grew its holdings in Corpay by 50.1% in the 2nd quarter. Nordea Investment Management AB now owns 20,297 shares of the company’s stock worth $6,670,000 after acquiring an additional 6,775 shares during the last quarter. Peak Financial Advisors LLC bought a new stake in Corpay in the 2nd quarter worth $2,518,000. Finally, Czech National Bank grew its holdings in Corpay by 7.6% in the 2nd quarter. Czech National Bank now owns 17,230 shares of the company’s stock worth $5,717,000 after acquiring an additional 1,219 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Analysts Set New Price Targets

CPAY has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price target on the stock. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the stock an “outperform” rating in a report on Thursday, August 7th. Williams Trading set a $300.00 target price on shares of Corpay in a research note on Monday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Corpay in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Corpay has an average rating of “Moderate Buy” and an average target price of $388.23.

Corpay Trading Up 0.2%

Shares of NYSE CPAY opened at $261.73 on Thursday. Corpay, Inc. has a 1 year low of $252.84 and a 1 year high of $400.81. The stock has a market cap of $18.48 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The firm has a 50-day moving average of $293.74 and a 200 day moving average of $315.90. 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 (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.09 billion. During the same period last year, the company posted $4.55 EPS. Corpay’s revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.