Cigna Investments Inc. New Decreases Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Cigna Investments Inc. New lowered its stake in shares of Corpay, Inc. (NYSE:CPAYFree Report) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 711 shares of the company’s stock after selling 47 shares during the period. Cigna Investments Inc. New’s holdings in Corpay were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new stake in Corpay during the third quarter worth about $27,000. Headlands Technologies LLC purchased a new stake in Corpay during the first quarter worth about $31,000. LGT Financial Advisors LLC purchased a new stake in Corpay during the second quarter worth about $33,000. RFP Financial Group LLC purchased a new stake in shares of Corpay in the first quarter valued at about $35,000. Finally, Blue Trust Inc. lifted its holdings in shares of Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

CPAY has been the topic of several recent research reports. Raymond James reduced their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. BMO Capital Markets upped their price target on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, Bank of America upped their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Four research 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $353.46.

Check Out Our Latest Report on Corpay

Corpay Stock Performance

Shares of CPAY stock opened at $329.81 on Friday. Corpay, Inc. has a one year low of $221.37 and a one year high of $355.47. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50 day moving average price of $322.19 and a 200 day moving average price of $294.86. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22.

Corpay (NYSE:CPAYGet Free Report) last issued its quarterly earnings results 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 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. Corpay’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Corpay, Inc. will post 17.83 EPS for the current year.

Corpay Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corpay (NYSE:CPAY)

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