Retirement Systems of Alabama Cuts Position in Corpay, Inc. (NYSE:CPAY)

Retirement Systems of Alabama trimmed its position in Corpay, Inc. (NYSE:CPAY) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,981 shares of the company’s stock after selling 112 shares during the quarter. Retirement Systems of Alabama’s holdings in Corpay were worth $5,224,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in shares of Corpay in the 4th quarter worth about $28,632,000. Aviso Financial Inc. purchased a new position in shares of Corpay in the 4th quarter worth about $151,000. Sanctuary Advisors LLC raised its holdings in shares of Corpay by 20.5% in the 4th quarter. Sanctuary Advisors LLC now owns 1,796 shares of the company’s stock worth $608,000 after purchasing an additional 305 shares during the period. D.A. Davidson & CO. purchased a new position in shares of Corpay in the 4th quarter worth about $350,000. Finally, Park Avenue Securities LLC raised its holdings in shares of Corpay by 15.2% in the 1st quarter. Park Avenue Securities LLC now owns 1,898 shares of the company’s stock worth $662,000 after purchasing an additional 250 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CPAY. Wall Street Zen lowered Corpay from a “buy” rating to a “hold” rating in a research report on Sunday. Raymond James Financial reaffirmed an “outperform” rating and issued a $414.00 price objective (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. UBS Group lowered 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 lowered 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 lowered 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. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and a consensus target price of $398.07.

Corpay Price Performance

Shares of CPAY opened at $329.45 on Wednesday. The firm has a market cap of $23.22 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.35 and a beta of 0.96. The stock has a 50 day moving average of $328.49 and a 200-day moving average of $343.89. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 52 week low of $264.08 and a 52 week high of $400.81.

Corpay (NYSE:CPAY) last issued its earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping the consensus estimate of $4.50 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.10 EPS. As a group, analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

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.