Bank Julius Baer & Co. Ltd Zurich Increases Stock Position in Corpay, Inc. (NYSE:CPAY)

Bank Julius Baer & Co. Ltd Zurich raised its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 21.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,369 shares of the company's stock after buying an additional 8,922 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.07% of Corpay worth $18,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC lifted its position in shares of Corpay by 6.2% in the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock worth $11,642,000 after purchasing an additional 1,942 shares during the period. DAVENPORT & Co LLC purchased a new stake in shares of Corpay in the 1st quarter worth approximately $213,000. GAMMA Investing LLC lifted its position in shares of Corpay by 9.9% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock worth $560,000 after purchasing an additional 145 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Corpay by 9.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock worth $1,016,000 after purchasing an additional 246 shares during the period. Finally, Park Avenue Securities LLC raised its stake in shares of Corpay by 15.2% during the 1st quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock worth $662,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on CPAY shares. 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 for the company. Raymond James Financial reiterated an "outperform" rating and set a $414.00 price objective (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Barclays reduced their price objective on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Wall Street Zen upgraded shares of Corpay from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Finally, UBS Group reduced their price objective on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Corpay has an average rating of "Moderate Buy" and a consensus price target of $401.07.

Corpay Stock Performance

Shares of CPAY stock traded up $2.11 during trading hours on Friday, hitting $335.66. The company's stock had a trading volume of 481,337 shares, compared to its average volume of 430,085. The company has a 50 day moving average of $331.42 and a 200 day moving average of $341.42. The stock has a market cap of $23.66 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.28 and a beta of 0.95. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 12-month low of $265.06 and a 12-month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating the consensus estimate of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.10 EPS. On average, sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Corpay 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.