Birch Capital Management LLC Reduces Stock Position in Corpay, Inc. $CPAY

Birch Capital Management LLC lessened its holdings in Corpay, Inc. (NYSE:CPAY) by 5.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,845 shares of the company’s stock after selling 370 shares during the quarter. Corpay makes up approximately 1.2% of Birch Capital Management LLC’s holdings, making the stock its 25th largest position. Birch Capital Management LLC’s holdings in Corpay were worth $2,271,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new position in Corpay in the second quarter valued at $37,000. Zions Bancorporation National Association UT purchased a new position in Corpay in the first quarter valued at $41,000. Rakuten Securities Inc. purchased a new position in Corpay in the first quarter valued at $45,000. Larson Financial Group LLC increased its holdings in Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock valued at $60,000 after buying an additional 130 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Corpay by 20.5% in the first quarter. Advisors Asset Management Inc. now owns 264 shares of the company’s stock valued at $92,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of CPAY opened at $290.49 on Friday. Corpay, Inc. has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97. The firm has a 50-day simple moving average of $308.83 and a 200-day simple moving average of $321.61. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $4.55 earnings per share. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on CPAY shares. Keefe, Bruyette & Woods dropped their target price on Corpay from $445.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Wall Street Zen raised Corpay from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Morgan Stanley dropped their price objective on Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. UBS Group dropped their price objective on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Finally, Raymond James Financial set a $392.00 price objective on Corpay and gave the stock an “outperform” rating in a report on Thursday, August 7th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $396.21.

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.