OLD National Bancorp IN Sells 124 Shares of Corpay, Inc. (NYSE:CPAY)

OLD National Bancorp IN lowered its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 13.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 781 shares of the company’s stock after selling 124 shares during the period. OLD National Bancorp IN’s holdings in Corpay were worth $272,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CPAY. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Corpay by 7.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 160,441 shares of the company’s stock valued at $54,296,000 after acquiring an additional 10,579 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Corpay by 453.9% during the fourth quarter. Empowered Funds LLC now owns 6,259 shares of the company’s stock valued at $2,118,000 after acquiring an additional 5,129 shares during the last quarter. Compound Global Advisors LLC bought a new position in shares of Corpay during the fourth quarter valued at $774,000. Allspring Global Investments Holdings LLC raised its stake in shares of Corpay by 17.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock valued at $8,067,000 after acquiring an additional 3,504 shares during the last quarter. Finally, Avion Wealth increased its position in shares of Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after buying an additional 91 shares during the period. Institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 2.3%

NYSE:CPAY opened at $350.74 on Wednesday. The company has a fifty day moving average of $323.11 and a 200 day moving average of $347.29. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $24.72 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.32 and a beta of 0.96.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.10 EPS. On average, research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Robert W. Baird set a $440.00 price objective on shares of Corpay in a research report on Tuesday. Oppenheimer assumed coverage on shares of Corpay in a research report on Monday, April 28th. They set a “market perform” rating for the company. UBS Group decreased their price objective on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company decreased their price objective on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Finally, Barclays decreased their price objective on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $398.07.

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.