Hancock Whitney Corp Has $17.44 Million Holdings in Corpay, Inc. $CPAY

Key Points

• Hancock Whitney Corp increased its holdings in Corpay, Inc. by 2.2% during the first quarter, bringing its total stake to approximately $17.44 million and about 0.07% of the company's stock.
• Corpay's stock has been rated a "Moderate Buy" by analysts, with a consensus price target of $399.43, despite some recent adjustments to target prices by different research firms.
• Corpay reported a 12.9% year-over-year revenue increase in its latest earnings, with earnings per share hitting $5.13, surpassing analyst estimates of $5.11.

Hancock Whitney Corp grew its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,998 shares of the company's stock after purchasing an additional 1,080 shares during the quarter. Hancock Whitney Corp owned approximately 0.07% of Corpay worth $17,435,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Advisory Services Inc. grew its holdings in Corpay by 5.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock worth $236,000 after acquiring an additional 32 shares during the period. Townsquare Capital LLC grew its stake in shares of Corpay by 0.7% during the first quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock worth $1,576,000 after purchasing an additional 32 shares during the period. Fulton Bank N.A. grew its stake in shares of 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 purchasing an additional 34 shares during the period. Wedmont Private Capital increased its holdings in Corpay by 3.2% in the first quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock valued at $387,000 after purchasing an additional 34 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Corpay by 0.3% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,666 shares of the company's stock valued at $4,417,000 after buying an additional 35 shares during the period. 98.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPAY. Morgan Stanley decreased their target price on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Robert W. Baird set a $440.00 price objective on shares of Corpay in a report on Tuesday, June 10th. UBS Group lowered their target price on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Corpay from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $399.43.

Corpay Stock Up 0.3%

Shares of CPAY stock opened at $318.78 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The firm's fifty day moving average price is $325.44 and its two-hundred day moving average price is $331.34. The firm has a market capitalization of $22.51 billion, a P/E ratio of 21.66, a PEG ratio of 1.24 and a beta of 1.00. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating analysts' consensus estimates of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $4.55 earnings per share. The business's revenue was up 12.9% compared to the same quarter last year. On average, equities analysts predict that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

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.

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