Corpay, Inc. (NYSE:CPAY) Short Interest Up 13.1% in August

Corpay, Inc. (NYSE:CPAY) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 2,240,000 shares, an increase of 13.1% from the August 15th total of 1,980,000 shares. Based on an average daily trading volume, of 455,400 shares, the short-interest ratio is presently 4.9 days. Approximately 3.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Chevy Chase Trust Holdings LLC bought a new position in Corpay in the 1st quarter worth $12,335,000. Empirical Finance LLC purchased a new stake in shares of Corpay in the 1st quarter worth about $829,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Corpay in the 1st quarter worth about $1,013,000. Agate Pass Investment Management LLC purchased a new stake in shares of Corpay in the 1st quarter worth about $3,937,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Corpay in the 1st quarter worth about $949,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Trading Down 0.2 %

Shares of NYSE CPAY opened at $306.88 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay has a 12 month low of $220.39 and a 12 month high of $319.94. The company has a market cap of $21.31 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.22 and a beta of 1.22. The stock has a fifty day moving average of $294.31.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $973.84 million. During the same period in the prior year, the business earned $3.85 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, sell-side analysts predict that Corpay will post 17.81 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CPAY shares. JPMorgan Chase & Co. upped their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Raymond James cut their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group upped their price objective on shares of Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Evercore ISI lowered their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $332.50.

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.