Mutual of America Capital Management LLC Trims Stock Position in Corpay, Inc. $CPAY

Mutual of America Capital Management LLC lessened its position in shares of Corpay, Inc. (NYSE:CPAY) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,946 shares of the company’s stock after selling 163 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Corpay were worth $3,917,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CPAY. Chevy Chase Trust Holdings LLC raised its position in Corpay by 1.8% in the second quarter. Chevy Chase Trust Holdings LLC now owns 37,234 shares of the company’s stock valued at $12,355,000 after purchasing an additional 674 shares during the period. Nordea Investment Management AB raised its position in Corpay by 50.1% in the second quarter. Nordea Investment Management AB now owns 20,297 shares of the company’s stock valued at $6,670,000 after purchasing an additional 6,775 shares during the period. Alta Capital Management LLC raised its position in Corpay by 8.2% in the second quarter. Alta Capital Management LLC now owns 696 shares of the company’s stock valued at $231,000 after purchasing an additional 53 shares during the period. Allianz Asset Management GmbH raised its holdings in Corpay by 6.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 607,907 shares of the company’s stock valued at $201,716,000 after buying an additional 37,789 shares during the period. Finally, Equitable Trust Co. raised its holdings in Corpay by 36.0% in the 2nd quarter. Equitable Trust Co. now owns 6,330 shares of the company’s stock valued at $2,100,000 after buying an additional 1,676 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Down 1.5%

Corpay stock opened at $283.22 on Thursday. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81. The stock’s fifty day simple moving average is $303.82 and its 200-day simple moving average is $318.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $20.00 billion, a P/E ratio of 19.24, a P/E/G ratio of 1.09 and a beta of 0.97.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company earned $4.55 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, equities analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CPAY has been the topic of several research analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the company an “outperform” rating in a research note on Thursday, August 7th. Morgan Stanley cut their target price on Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corpay in a research report on Wednesday, October 8th. Finally, UBS Group cut their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and an average price target of $395.58.

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.