D.A. Davidson & CO. Buys 20,838 Shares of Corpay, Inc. (NYSE:CPAY)

D.A. Davidson & CO. grew its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 2,015.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,872 shares of the company's stock after purchasing an additional 20,838 shares during the quarter. D.A. Davidson & CO.'s holdings in Corpay were worth $7,627,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Co SC raised its holdings in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after purchasing an additional 53 shares in the last quarter. Assetmark Inc. raised its holdings in Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after purchasing an additional 60 shares in the last quarter. Rakuten Securities Inc. bought a new position in Corpay in the 1st quarter worth $45,000. EverSource Wealth Advisors LLC raised its holdings in Corpay by 70.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock worth $45,000 after purchasing an additional 55 shares in the last quarter. Finally, Knuff & Co LLC bought a new position in shares of Corpay in the 4th quarter worth about $54,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

Shares of NYSE CPAY opened at $339.10 on Friday. The firm's 50-day moving average price is $332.04 and its 200-day moving average price is $342.60. 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 company has a market cap of $23.90 billion, a PE ratio of 23.78, a PEG ratio of 1.43 and a beta of 0.95. Corpay, Inc. has a 52-week low of $265.06 and a 52-week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. The firm 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 quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.10 EPS. As a group, analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Robert W. Baird set a $440.00 price target on shares of Corpay in a research report on Tuesday, June 10th. UBS Group lowered their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Raymond James Financial reissued an "outperform" rating and set a $414.00 price target (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Oppenheimer assumed coverage on shares of Corpay in a research report on Monday, April 28th. They set a "market perform" rating for the company. Finally, Wells Fargo & Company lowered their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $401.86.

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.

Want to see what other hedge funds are holding CPAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corpay, Inc. (NYSE:CPAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.