New York State Teachers Retirement System Has $18.93 Million Stake in Corpay, Inc. (NYSE:CPAY)

New York State Teachers Retirement System lowered its position in Corpay, Inc. (NYSE:CPAY) by 5.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,045 shares of the company’s stock after selling 4,135 shares during the period. New York State Teachers Retirement System owned 0.10% of Corpay worth $18,927,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in shares of Corpay during the 1st quarter valued at $33,840,000. GAMMA Investing LLC bought a new position in Corpay during the first quarter valued at about $149,000. Pensionfund Sabic acquired a new stake in shares of Corpay in the first quarter worth about $1,327,000. Beese Fulmer Investment Management Inc. bought a new stake in shares of Corpay during the 1st quarter worth about $1,398,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in shares of Corpay during the 1st quarter valued at about $61,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group boosted their target price on Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. BMO Capital Markets decreased their price objective on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday. Evercore ISI lowered their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.50.

Corpay Trading Down 0.1 %

CPAY stock traded down $0.41 during midday trading on Friday, hitting $296.77. The stock had a trading volume of 124,070 shares, compared to its average volume of 461,613. The firm has a market capitalization of $20.85 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. The stock’s 50-day simple moving average is $278.92. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94.

Corpay (NYSE:CPAY) last posted its quarterly 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 26.29% and a return on equity of 36.97%. The firm had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same quarter in the prior year, the business posted $3.85 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts forecast that Corpay, Inc. will post 17.82 EPS for the current year.

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.