Condor Capital Management Buys New Stake in Corpay, Inc. (NYSE:CPAY)

Key Points

• Condor Capital Management acquired a new position in Corpay, Inc. (NYSE:CPAY) by purchasing 5,573 shares valued at approximately $1.94 million in the first quarter.
• The company's recent earnings report showed a quarterly EPS of $5.13, exceeding the consensus estimate, and a 12.9% year-over-year revenue increase to $1.10 billion.
• Corpay's stock is currently trading at around $301.73, with analysts providing an average price target of $397.93 and several ratings suggesting a "Moderate Buy."

Condor Capital Management bought a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,573 shares of the company's stock, valued at approximately $1,943,000.

Other large investors also recently modified their holdings of the company. Colonial Trust Co SC lifted its holdings in Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after acquiring an additional 53 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Corpay in the first quarter worth about $41,000. Rakuten Securities Inc. bought a new position in Corpay in the first quarter worth about $45,000. Larson Financial Group LLC lifted its holdings in Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after acquiring an additional 130 shares during the last quarter. Finally, Continuum Advisory LLC lifted its holdings in Corpay by 29.6% in the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after acquiring an additional 42 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPAY has been the topic of a number of recent analyst reports. Robert W. Baird set a $440.00 price target on Corpay in a report on Tuesday, June 10th. Oppenheimer started coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 price objective on the stock. Morgan Stanley set a $356.00 price objective on shares of Corpay and gave the company an "equal weight" rating in a research note on Monday. Finally, Wells Fargo & Company decreased their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $396.33.

Corpay Stock Up 1.8%

Shares of Corpay stock traded up $5.50 on Tuesday, hitting $309.27. 575,178 shares of the company traded hands, compared to its average volume of 498,166. The company has a 50-day moving average price of $328.85 and a 200 day moving average price of $337.55. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 12-month low of $269.02 and a 12-month high of $400.81. The company has a market cap of $21.84 billion, a PE ratio of 21.01, a PEG ratio of 1.14 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.09 billion. During the same quarter in the previous year, the business earned $4.55 EPS. Corpay's quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share 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.