Capital Impact Advisors LLC Buys New Position in Corpay, Inc. $CPAY

Key Points

• Capital Impact Advisors LLC has acquired a new stake in Corpay, Inc. (NYSE: CPAY), purchasing 23,450 shares valued at approximately $8,177,000, making CPAY the firm's 14th largest position.
• Wall Street analysts are optimistic about Corpay's future, with nine analysts rating it as a Buy and a consensus price target of $399.43.
• Corpay reported a quarterly earnings per share (EPS) of $5.13, exceeding analyst expectations, and is anticipated to post an EPS of 19.76 for the current fiscal year.

Capital Impact Advisors LLC purchased a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 23,450 shares of the company's stock, valued at approximately $8,177,000. Corpay accounts for 3.1% of Capital Impact Advisors LLC's portfolio, making the stock its 14th largest holding.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC grew its position in Corpay by 6.2% in the first quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock valued at $11,642,000 after acquiring an additional 1,942 shares during the period. DAVENPORT & Co LLC bought a new stake in shares of Corpay during the first quarter worth $213,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Corpay by 54.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,590 shares of the company's stock worth $3,693,000 after purchasing an additional 3,739 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Corpay by 9.9% during the first 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 last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Corpay by 1.6% during the first quarter. Royal Bank of Canada now owns 109,933 shares of the company's stock worth $38,336,000 after purchasing an additional 1,716 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPAY. UBS Group decreased their target price on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Raymond James Financial set a $392.00 target price on Corpay and gave the company an "outperform" rating in a research note on Thursday, August 7th. Morgan Stanley cut their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Robert W. Baird set a $440.00 target price on Corpay in a research note on Tuesday, June 10th. Finally, Wall Street Zen raised Corpay from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $399.43.

Corpay Stock Down 0.2%

Shares of NYSE CPAY traded down $0.55 during mid-day trading on Monday, reaching $306.81. 109,151 shares of the company's stock were exchanged, compared to its average volume of 483,741. The firm has a market capitalization of $21.66 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.16 and a beta of 1.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The business has a fifty day simple moving average of $322.35 and a 200 day simple moving average of $327.89. Corpay, Inc. has a twelve month low of $269.02 and a twelve month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.02. The company 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%.Corpay's revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.55 earnings per share. As a group, equities analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.