First Hawaiian Bank Raises Stake in Corpay, Inc. (NYSE:CPAY)

First Hawaiian Bank boosted its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,696 shares of the company's stock after purchasing an additional 1,095 shares during the quarter. First Hawaiian Bank's holdings in Corpay were worth $2,684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Corpay by 17.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock worth $8,067,000 after purchasing an additional 3,504 shares during the last quarter. Journey Strategic Wealth LLC purchased a new position in Corpay during the 4th quarter worth $499,000. Proficio Capital Partners LLC purchased a new position in Corpay during the 4th quarter worth $28,632,000. Aviso Financial Inc. purchased a new position in Corpay during the 4th quarter worth $151,000. Finally, Sanctuary Advisors LLC raised its position in Corpay by 20.5% during the 4th quarter. Sanctuary Advisors LLC now owns 1,796 shares of the company's stock worth $608,000 after buying an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CPAY shares. Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Wells Fargo & Company cut their price objective on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods increased their target price on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and issued a $414.00 target price (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Finally, Oppenheimer started coverage on shares of Corpay in a report on Monday, April 28th. They issued a "market perform" rating for the company. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $395.07.

Corpay Trading Down 1.4%

Shares of NYSE CPAY traded down $4.67 during midday trading on Friday, reaching $324.94. 906,379 shares of the stock were exchanged, compared to its average volume of 480,582. The company has a market capitalization of $22.91 billion, a P/E ratio of 23.24, a P/E/G ratio of 1.32 and a beta of 0.98. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81. The stock has a 50 day moving average price of $325.08 and a 200-day moving average price of $349.18.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.10 earnings per share. Equities research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.