Inspire Advisors LLC Sells 75 Shares of Corpay, Inc. (NYSE:CPAY)

Inspire Advisors LLC decreased its holdings in Corpay, Inc. (NYSE:CPAY) by 4.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,769 shares of the company’s stock after selling 75 shares during the quarter. Inspire Advisors LLC’s holdings in Corpay were worth $471,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in shares of Corpay during the first quarter worth $2,431,089,000. JPMorgan Chase & Co. acquired a new position in Corpay during the 1st quarter valued at about $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new position in Corpay during the 1st quarter valued at about $1,355,377,000. Boston Partners purchased a new stake in Corpay in the first quarter valued at about $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new stake in Corpay in the first quarter worth about $553,279,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of NYSE CPAY opened at $307.43 on Friday. The stock has a market capitalization of $21.34 billion, a P/E ratio of 22.87, a PEG ratio of 1.22 and a beta of 1.22. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The business’s fifty day moving average price is $292.85. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $319.94.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (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 for the quarter, compared to analyst estimates of $973.84 million. During the same period in the prior year, the company posted $3.85 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts expect that Corpay, Inc. will post 17.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CPAY shares. Evercore ISI cut their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Raymond James reduced their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Jefferies Financial Group boosted their price target on Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.