Pensionfund Sabic Reduces Position in Corpay, Inc. (NYSE:CPAY)

Pensionfund Sabic lessened its position in shares of Corpay, Inc. (NYSE:CPAY) by 11.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,800 shares of the company’s stock after selling 500 shares during the quarter. Pensionfund Sabic’s holdings in Corpay were worth $1,188,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CPAY. Headlands Technologies LLC purchased a new position in shares of Corpay in the 1st quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new position in shares of Corpay in the 1st quarter valued at approximately $34,000. RFP Financial Group LLC purchased a new position in shares of Corpay in the 1st quarter valued at approximately $35,000. LGT Financial Advisors LLC purchased a new position in shares of Corpay in the 2nd quarter valued at approximately $33,000. Finally, Innealta Capital LLC purchased a new position in shares of Corpay in the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

CPAY has been the subject of several recent analyst reports. BMO Capital Markets raised their price target on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Evercore ISI reduced their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. William Blair raised Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Raymond James reduced their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.83.

Corpay Stock Performance

Shares of CPAY stock opened at $335.87 on Friday. The stock has a fifty day moving average price of $304.07 and a 200 day moving average price of $290.76. The stock has a market cap of $23.60 billion, a PE ratio of 24.99, a P/E/G ratio of 1.24 and a beta of 1.22. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $339.93. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.85 earnings per share. Sell-side analysts forecast that Corpay, Inc. will post 17.83 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.