Corpay, Inc. (NYSE:CPAY) Position Reduced by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. trimmed its stake in shares of Corpay, Inc. (NYSE:CPAY) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,126 shares of the company’s stock after selling 128 shares during the quarter. Corpay makes up 1.8% of Contravisory Investment Management Inc.’s portfolio, making the stock its 26th biggest position. Contravisory Investment Management Inc.’s holdings in Corpay were worth $8,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Chevy Chase Trust Holdings LLC bought a new position in shares of Corpay in the 1st quarter worth about $12,335,000. Empirical Finance LLC bought a new stake in Corpay in the 1st quarter valued at about $829,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Corpay in the 1st quarter valued at about $1,013,000. Agate Pass Investment Management LLC bought a new stake in Corpay in the 1st quarter valued at about $3,937,000. Finally, EP Wealth Advisors LLC bought a new stake in Corpay in the 1st quarter valued at about $949,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Trading Up 0.5 %

Shares of CPAY opened at $335.87 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $339.93. The stock has a market capitalization of $23.32 billion, a P/E ratio of 24.41, a P/E/G ratio of 1.33 and a beta of 1.22. The business’s 50-day moving average price is $304.07 and its 200 day moving average price is $290.76.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $3.85 EPS. Analysts expect that Corpay, Inc. will post 17.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Evercore ISI cut their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Jefferies Financial Group lifted their price objective on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. Three equities research 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $340.83.

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.