Azzad Asset Management Inc. ADV Invests $2.57 Million in Corpay, Inc. (NYSE:CPAY)

Azzad Asset Management Inc. ADV purchased a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,367 shares of the company's stock, valued at approximately $2,569,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Colonial Trust Co SC raised its stake in Corpay by 120.5% during 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 in the last quarter. Assetmark Inc. grew its holdings in shares of Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after purchasing an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Corpay by 70.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock worth $45,000 after purchasing an additional 55 shares during the last quarter. Knuff & Co LLC bought a new stake in shares of Corpay during the fourth quarter worth about $54,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Corpay by 38.5% during the fourth quarter. Global Retirement Partners LLC now owns 169 shares of the company's stock worth $57,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Trading Down 3.7%

CPAY traded down $11.97 during trading on Wednesday, hitting $315.39. The company's stock had a trading volume of 417,574 shares, compared to its average volume of 483,743. Corpay, Inc. has a twelve month low of $251.04 and a twelve month high of $400.81. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69. The stock's fifty day moving average price is $327.53 and its 200-day moving average price is $345.73. The firm has a market capitalization of $22.23 billion, a P/E ratio of 22.13, a PEG ratio of 1.40 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.50 by $0.01. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm earned $4.10 earnings per share. The company's revenue was up 7.5% compared to the same quarter last year. Analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Upgrades and Downgrades

CPAY has been the topic of several research reports. Oppenheimer initiated coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Raymond James Financial restated an "outperform" rating and set a $414.00 price target (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. UBS Group reduced their price target on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Barclays reduced their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a report on Saturday. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Corpay has a consensus rating of "Moderate Buy" and an average price target of $398.07.

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.