Cerity Partners LLC Grows Holdings in Corpay, Inc. (NYSE:CPAY)

Cerity Partners LLC boosted its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 6.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,385 shares of the company's stock after purchasing an additional 1,942 shares during the quarter. Cerity Partners LLC's holdings in Corpay were worth $11,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Corpay by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company's stock valued at $2,623,702,000 after purchasing an additional 120,688 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Corpay by 20.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock valued at $1,976,651,000 after purchasing an additional 1,000,699 shares during the last quarter. Boston Partners raised its stake in Corpay by 6.4% in the 4th quarter. Boston Partners now owns 2,045,398 shares of the company's stock valued at $694,847,000 after purchasing an additional 122,380 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Corpay by 1.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company's stock valued at $659,890,000 after buying an additional 20,937 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Corpay by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,732,793 shares of the company's stock valued at $584,962,000 after acquiring an additional 54,894 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a research note on Thursday. They set a "buy" rating and a $390.00 price objective for the company. Oppenheimer assumed coverage on shares of Corpay in a research note on Monday, April 28th. They set a "market perform" rating for the company. Robert W. Baird set a $440.00 price objective on shares of Corpay in a research note on Tuesday, June 10th. Barclays dropped 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. Finally, UBS Group dropped 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. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Corpay presently has a consensus rating of "Moderate Buy" and a consensus price target of $401.07.

Corpay Stock Down 0.8%

NYSE CPAY traded down $2.55 on Friday, reaching $332.56. The company had a trading volume of 233,582 shares, compared to its average volume of 473,214. The firm has a market capitalization of $23.44 billion, a PE ratio of 23.32, a P/E/G ratio of 1.37 and a beta of 0.95. Corpay, Inc. has a 1 year low of $265.06 and a 1 year high of $400.81. The firm has a 50-day moving average of $332.79 and a 200-day moving average of $341.79. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.10 and a quick ratio of 1.10.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping analysts' consensus estimates of $4.50 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. Corpay's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.10 EPS. On average, equities research analysts anticipate 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.