Alpine Woods Capital Investors LLC Grows Stock Position in Corpay, Inc. $CPAY

Key Points

• Alpine Woods Capital Investors LLC increased its stake in Corpay, Inc. by 20.1%, now holding 7,783 shares valued at approximately $2.58 million.
• Corpay reported Q2 earnings of $5.13 per share, exceeding analysts' expectations, with revenue of $1.10 billion—an increase of 12.9% year-over-year.
• Currently, 98.84% of Corpay's stock is owned by institutional investors, indicating significant institutional confidence in the company.

Alpine Woods Capital Investors LLC lifted its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,783 shares of the company's stock after purchasing an additional 1,300 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Corpay were worth $2,583,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. purchased a new position in Corpay in the second quarter worth $33,000. Ameritas Advisory Services LLC purchased a new position in Corpay in the second quarter worth $37,000. Zions Bancorporation National Association UT purchased a new position in Corpay in the first quarter worth $41,000. Rakuten Securities Inc. purchased a new position in Corpay in the first quarter worth $45,000. Finally, Larson Financial Group LLC raised its position 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 in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Up 0.9%

CPAY opened at $282.53 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The firm has a market cap of $19.95 billion, a P/E ratio of 19.19, a PEG ratio of 1.06 and a beta of 0.97. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The business's fifty day simple moving average is $307.27 and its 200 day simple moving average is $320.12.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating analysts' consensus estimates of $5.11 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.55 earnings per share. As a group, equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CPAY shares. Keefe, Bruyette & Woods cut their price objective on Corpay from $445.00 to $400.00 and set an "outperform" rating for the company in a research report on Wednesday, October 1st. UBS Group cut their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price on the stock. Raymond James Financial set a $392.00 target price on Corpay and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Wall Street Zen lowered Corpay from a "buy" rating to a "hold" rating in a report on Saturday. Ten investment 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 company currently has an average rating of "Moderate Buy" and an average target price of $396.21.

About Corpay

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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