Mn Services Vermogensbeheer B.V. Reduces Stock Position in Corpay, Inc. (NYSE:CPAY)

Mn Services Vermogensbeheer B.V. trimmed its holdings in Corpay, Inc. (NYSE:CPAY) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,600 shares of the company’s stock after selling 700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Corpay were worth $8,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. bought a new stake in shares of Corpay during the 1st quarter valued at $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in shares of Corpay in the first quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD bought a new position in shares of Corpay in the first quarter valued at approximately $1,355,377,000. Boston Partners purchased a new position in Corpay during the first quarter valued at approximately $553,667,000. Finally, Sustainable Growth Advisers LP bought a new stake in Corpay during the 1st quarter worth approximately $553,279,000. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CPAY. Raymond James cut their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Morgan Stanley upped their target price on Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company upped their price objective on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and an average target price of $353.46.

Corpay Trading Up 0.3 %

Shares of CPAY opened at $330.81 on Wednesday. Corpay, Inc. has a fifty-two week low of $221.37 and a fifty-two week high of $355.47. The firm has a market cap of $22.97 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.30 and a beta of 1.21. The firm has a 50 day moving average price of $323.31 and a 200-day moving average price of $295.32. 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 posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same period in the previous year, the firm posted $3.85 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Corpay, Inc. will post 17.96 earnings per share for the current year.

Corpay 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.