Azzad Asset Management Inc. ADV Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Azzad Asset Management Inc. ADV purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,367 shares of the company's stock, valued at approximately $2,569,000.

Several other institutional investors and hedge funds have also made changes to their positions in CPAY. Colonial Trust Co SC increased its holdings in shares of Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after purchasing an additional 53 shares during the period. Assetmark Inc. increased its holdings in shares of Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock valued at $42,000 after purchasing an additional 60 shares during the period. EverSource Wealth Advisors LLC increased 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 valued at $45,000 after purchasing an additional 55 shares during the period. Knuff & Co LLC acquired a new position in Corpay during the fourth quarter worth about $54,000. Finally, Global Retirement Partners LLC grew its holdings in 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 acquiring an additional 47 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Down 7.7%

NYSE:CPAY traded down $27.07 during mid-day trading on Friday, reaching $322.98. The stock had a trading volume of 752,935 shares, compared to its average volume of 482,762. The business's 50 day moving average is $326.42 and its 200 day moving average is $346.44. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The stock has a market cap of $22.77 billion, a P/E ratio of 23.10, a PEG ratio of 1.32 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.50 by $0.01. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company earned $4.10 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Oppenheimer began coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Raymond James reiterated an "outperform" rating and issued a $414.00 price target (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Barclays decreased their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, UBS Group decreased their price objective on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Corpay currently has an average 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.