Equitable Trust Co. Increases Holdings in Corpay, Inc. $CPAY

Key Points

• Equitable Trust Co. increased its holdings in Corpay, Inc. by 36.0% during the second quarter, now owning 6,330 shares valued at approximately $2.1 million.
• A recent report from Raymond James Financial set a target price of $392.00 for Corpay, while the consensus rating across several analysts leans towards a "Moderate Buy" with an average target price of $397.85.
• Corpay's shares opened at $289.53 with a market capitalization of $20.44 billion, reporting a 12.9% year-over-year revenue increase in its most recent quarter.

Equitable Trust Co. grew its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 36.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,330 shares of the company's stock after acquiring an additional 1,676 shares during the period. Equitable Trust Co.'s holdings in Corpay were worth $2,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Hazlett Burt & Watson Inc. purchased a new stake in shares of Corpay in the second quarter worth about $33,000. Ameritas Advisory Services LLC purchased a new stake in shares of Corpay in the second quarter worth about $37,000. Zions Bancorporation National Association UT purchased a new stake in shares of Corpay in the first quarter worth about $41,000. Rakuten Securities Inc. purchased a new stake in shares of Corpay in the first quarter worth about $45,000. Finally, Larson Financial Group LLC lifted its position in shares of Corpay by 309.5% in the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after buying an additional 130 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CPAY shares. Raymond James Financial set a $392.00 target price on Corpay and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a research report on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price on the stock. Morgan Stanley decreased their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. UBS Group reduced their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Corpay in a research note on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Corpay has a consensus rating of "Moderate Buy" and an average target price of $397.85.

Corpay Trading Up 2.5%

Shares of NYSE CPAY opened at $289.53 on Wednesday. The business's 50 day moving average is $306.68 and its two-hundred day moving average is $319.91. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. Corpay, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81. The stock has a market capitalization of $20.44 billion, a P/E ratio of 19.67, a PEG ratio of 1.07 and a beta of 0.97.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, beating analysts' consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.55 earnings per share. As a group, research analysts expect that Corpay, Inc. will post 19.76 EPS for the current 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.

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