Equitable Trust Co. Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Key Points

• Equitable Trust Co. has invested approximately $1.62 million in Corpay, Inc., acquiring 4,654 shares during the first quarter, according to its recent SEC filing.
• Corpay has reported a 7.5% year-over-year revenue increase with earnings of $4.51 per share, slightly surpassing estimates.
• Analysts show a mixed outlook for Corpay, with target prices ranging from $365.00 to $440.00, while the stock is currently rated as a "Moderate Buy."

Equitable Trust Co. bought a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,654 shares of the company's stock, valued at approximately $1,623,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fulton Bank N.A. boosted its position in Corpay by 2.1% during the first quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock worth $581,000 after acquiring an additional 34 shares during the last quarter. Wedmont Private Capital raised its stake in Corpay by 3.2% during the first quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock worth $387,000 after purchasing an additional 34 shares during the period. Continuum Advisory LLC raised its stake in Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after purchasing an additional 42 shares during the period. Fifth Third Bancorp raised its stake in Corpay by 1.6% during the first quarter. Fifth Third Bancorp now owns 2,691 shares of the company's stock worth $938,000 after purchasing an additional 43 shares during the period. Finally, Signaturefd LLC raised its stake in Corpay by 16.7% during the first quarter. Signaturefd LLC now owns 300 shares of the company's stock worth $105,000 after purchasing an additional 43 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Up 1.1%

CPAY stock traded up $3.77 during mid-day trading on Wednesday, hitting $335.69. 140,522 shares of the company were exchanged, compared to its average volume of 482,854. The company has a market capitalization of $23.66 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.27 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 twelve month low of $265.06 and a twelve month high of $400.81. The firm has a fifty day simple moving average of $330.95 and a 200 day simple moving average of $341.13.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CPAY shares. Raymond James Financial reaffirmed an "outperform" rating and set a $414.00 price target (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price on the stock. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Barclays lowered their price target on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Monday, April 14th. 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 report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $401.07.

Corpay Company 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.