Raymond James & Associates Cuts Stake in Corpay, Inc. (NYSE:CPAY)

Raymond James & Associates decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 52.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,852 shares of the company's stock after selling 35,419 shares during the period. Raymond James & Associates' holdings in Corpay were worth $9,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CPAY. Mather Group LLC. raised its holdings in shares of Corpay by 21.2% during the third quarter. Mather Group LLC. now owns 200 shares of the company's stock valued at $63,000 after acquiring an additional 35 shares during the last quarter. Epic Trust Investment Advisors LLC raised its stake in Corpay by 4.1% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company's stock valued at $266,000 after purchasing an additional 39 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company's stock valued at $64,000 after purchasing an additional 43 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Corpay by 6.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 812 shares of the company's stock worth $254,000 after purchasing an additional 49 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Corpay by 4.3% during the second quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company's stock worth $352,000 after buying an additional 54 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CPAY. Raymond James decreased their price target on shares of Corpay from $330.00 to $311.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group boosted their target price on Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on Corpay from $327.00 to $353.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 20th. Finally, Wolfe Research raised Corpay from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Corpay has an average rating of "Moderate Buy" and an average target price of $353.46.

Corpay Trading Down 0.0 %

Shares of Corpay stock traded down $0.14 on Wednesday, reaching $331.88. The company had a trading volume of 537,170 shares, compared to its average volume of 467,804. The firm's 50 day moving average price is $320.15 and its two-hundred day moving average price is $294.12. 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, Inc. has a 52-week low of $221.37 and a 52-week high of $355.47. The firm has a market cap of $23.32 billion, a PE ratio of 24.70, a PEG ratio of 1.39 and a beta of 1.22.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The company had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same quarter in the previous year, the company earned $3.85 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts predict 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.