Capital Investment Services of America Inc. Decreases Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Capital Investment Services of America Inc. decreased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 5.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 78,715 shares of the company's stock after selling 4,622 shares during the quarter. Corpay makes up 2.3% of Capital Investment Services of America Inc.'s investment portfolio, making the stock its 20th largest position. Capital Investment Services of America Inc. owned approximately 0.11% of Corpay worth $24,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Corpay during the first quarter worth $995,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Corpay during the first quarter valued at approximately $52,600,000. First Trust Direct Indexing L.P. purchased a new stake in Corpay in the 1st quarter worth approximately $229,000. Retirement Systems of Alabama purchased a new position in shares of Corpay during the 1st quarter valued at $4,985,000. Finally, Sequoia Financial Advisors LLC bought a new position in Corpay in the 1st quarter worth about $391,000. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of research analyst reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Barclays upped their target price on Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Wells Fargo & Company raised their price objective on Corpay from $285.00 to $320.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Morgan Stanley boosted their target price on Corpay from $275.00 to $325.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Finally, William Blair upgraded Corpay to a "strong-buy" rating in a research report on Thursday, August 8th. Four investment 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $353.46.

Corpay Stock Down 0.0 %

Corpay stock traded down $0.14 on Monday, hitting $329.67. 329,179 shares of the stock traded hands, compared to its average volume of 467,333. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The business's fifty day simple moving average is $322.19 and its 200 day simple moving average is $294.83. The firm has a market cap of $22.89 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. Corpay, Inc. has a 1 year low of $221.37 and a 1 year high of $355.47.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $973.84 million. During the same quarter in the prior year, the company earned $3.85 earnings per share. The business's revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Corpay, Inc. will post 17.96 earnings per share for the current 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.