Ceera Investments LLC Trims Stock Position in Corpay, Inc. (NYSE:CPAY)

Ceera Investments LLC trimmed its stake in shares of Corpay, Inc. (NYSE:CPAY) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,017 shares of the company’s stock after selling 59 shares during the quarter. Corpay comprises 1.9% of Ceera Investments LLC’s investment portfolio, making the stock its 20th biggest holding. Ceera Investments LLC’s holdings in Corpay were worth $5,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFM Investors Pty Ltd lifted its holdings in shares of Corpay by 7.1% during the first quarter. IFM Investors Pty Ltd now owns 13,619 shares of the company’s stock worth $4,749,000 after purchasing an additional 901 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Corpay by 68.2% during the first quarter. OneDigital Investment Advisors LLC now owns 1,078 shares of the company’s stock worth $376,000 after acquiring an additional 437 shares during the period. Silver Oak Securities Incorporated purchased a new position in Corpay during the first quarter worth about $336,000. D.A. Davidson & CO. lifted its holdings in shares of Corpay by 2,015.3% in the 1st quarter. D.A. Davidson & CO. now owns 21,872 shares of the company’s stock valued at $7,627,000 after buying an additional 20,838 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in Corpay by 36.6% during the first quarter. Teacher Retirement System of Texas now owns 11,510 shares of the company’s stock worth $4,014,000 after acquiring an additional 3,085 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James Financial reissued an “outperform” rating and issued a $414.00 target price (down previously from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Barclays lowered their target price on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Robert W. Baird set a $440.00 price target on shares of Corpay in a research report on Tuesday, June 10th. Oppenheimer assumed coverage on Corpay in a report on Monday, April 28th. They issued a “market perform” rating on the stock. Finally, Wall Street Zen raised Corpay from a “hold” rating to a “buy” rating in a research note on Monday, June 30th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $401.86.

Corpay Stock Up 0.6%

Shares of NYSE:CPAY opened at $339.10 on Friday. The company has a market capitalization of $23.90 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.43 and a beta of 0.95. The stock’s fifty day simple moving average is $332.04 and its 200-day simple moving average is $342.60. Corpay, Inc. has a 52-week low of $265.06 and a 52-week high of $400.81. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $4.10 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share 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.