Burney Co. Decreases Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Burney Co. lessened its position in shares of Corpay, Inc. (NYSE:CPAY) by 11.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,110 shares of the company’s stock after selling 275 shares during the quarter. Burney Co.’s holdings in Corpay were worth $562,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CPAY. Global Retirement Partners LLC purchased a new stake in shares of Corpay during the first quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in Corpay during the 1st quarter worth approximately $31,000. Sunbelt Securities Inc. acquired a new position in Corpay during the 1st quarter valued at approximately $34,000. RFP Financial Group LLC purchased a new position in shares of Corpay in the first quarter worth $35,000. Finally, Blue Trust Inc. lifted its stake in shares of Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the period. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays cut their target price on Corpay from $355.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Jefferies Financial Group upped their target price on Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Evercore ISI cut their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Bank of America cut their target price on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, William Blair raised shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $332.50.

Corpay Price Performance

Corpay stock traded up $6.74 during midday trading on Thursday, reaching $310.54. The company had a trading volume of 319,150 shares, compared to its average volume of 461,743. The company has a market capitalization of $21.82 billion, a P/E ratio of 22.94, a P/E/G ratio of 1.09 and a beta of 1.20. Corpay, Inc. has a 12-month low of $220.39 and a 12-month high of $319.94. The business has a fifty day moving average of $282.90. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.29% and a return on equity of 36.97%. Corpay’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $3.85 EPS. On average, analysts expect that Corpay, Inc. will post 17.82 EPS for the current fiscal 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.