OLD National Bancorp IN sells 89 shares of Corpay, Inc. (NYSE:CPAY)

OLD National Bancorp IN reduced its holdings in Corpay, Inc. (NYSE:CPAY – Free Report) by 10.2% during the second quarter, according to the company in its most recent filing with the SEC on Form 13F. The firm owned 780 shares of the company’s stock after selling 89 shares during the quarter. OLD National Bancorp IN’s holdings in Corpay were worth $208,000 at the end of the last quarter.

A number of other institutional investors and hedge funds have also recently changed their holdings in CPAY. Global Retirement Partners LLC acquired a new stake in Corpay during the first quarter valued at $25,000. Headlands Technologies LLC acquired a new stake in Corpay during the first quarter valued at about $31,000. Sunbelt Securities Inc. acquired a new stake in Corpay during the first quarter valued at about $34,000. RFP Financial Group LLC acquired a new stake in Corpay during the 1st quarter valued at about $35,000. Finally, Mather Group LLC acquired a new stake in Corpay during the 2nd quarter valued at about $44,000. 98.84% of the shares are owned by institutional investors.

Corporate trading down 0.8%

Shares of CPAY opened at $284.04 on Friday. Corpay, Inc. has a 12-month low of $220.39 and a 12-month high of $319.94. The company’s 50-day moving average is $273.01. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $19.96 billion, a P/E ratio of 21.13, a PEG ratio of 1.09 and a beta of 1.20.

Corpay (NYSE:CPAY – Get Free Report) last announced its earnings results on Wednesday, August 7. The company reported earnings per share of $4.55 for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The company posted revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same period last year, the company posted earnings per share of $3.85. The company’s revenue for the quarter increased by 2.9% year-over-year. On average, equities analysts forecast that Corpay, Inc. will post earnings per share of $17.82 for the current year.

Wall Street analysts predict growth

Several equities analysts have commented on the stock. Citigroup increased their price target on shares of Corpay from $325.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Barclays decreased their price target on Corpay from $355.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Jefferies Financial Group increased their price target on Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. BMO Capital Markets decreased their price target on shares of Corpay from $360.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Finally, Evercore ISI lowered their price target on shares of Corpay from $350.00 to $345.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25. One investment analyst rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating. According to data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus price target of $330.33.

Check out our latest analysis on CPAY

Company profile

(Free report)

Corpay, Inc. is a payments company that helps businesses and consumers in the United States, Brazil, the United Kingdom and internationally manage vehicle and accommodation expenses and corporate payments. The company offers vehicle payment solutions that include fuel, tolls, parking, fleet maintenance and long-distance transportation services, as well as prepaid vouchers and cards for food and transportation.