Jacobs Levy Equity Management Inc. Acquires New Position in Corpay, Inc. $CPAY

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new position in Corpay, Inc. (NYSE: CPAY), purchasing 1,426 shares valued at approximately $497,000.
• Corpay reported a quarterly earnings per share of $5.13, exceeding expectations, with revenue of $1.10 billion, reflecting a 12.9% year-over-year increase.
• Wall Street analysts generally have a positive outlook on Corpay, with an average target price of $399.43 and ratings including nine "Buy" and five "Hold" ratings.

Jacobs Levy Equity Management Inc. purchased a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,426 shares of the company's stock, valued at approximately $497,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CPAY. Zions Bancorporation National Association UT purchased a new stake in Corpay in the 1st quarter valued at $41,000. Rakuten Securities Inc. purchased a new stake in Corpay in the 1st quarter valued at $45,000. Larson Financial Group LLC grew its stake in Corpay by 309.5% in the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after purchasing an additional 130 shares during the period. Continuum Advisory LLC grew its stake in Corpay by 29.6% in the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after purchasing an additional 42 shares during the period. Finally, Whipplewood Advisors LLC grew its stake in Corpay by 648.0% in the 1st quarter. Whipplewood Advisors LLC now owns 187 shares of the company's stock valued at $65,000 after purchasing an additional 162 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group reduced their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Raymond James Financial set a $392.00 price target on Corpay and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 price target for the company. Finally, Morgan Stanley cut their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $399.43.

Corpay Price Performance

NYSE CPAY traded down $5.76 during trading hours on Thursday, hitting $304.87. The company had a trading volume of 467,155 shares, compared to its average volume of 351,326. Corpay, Inc. has a 52 week low of $269.02 and a 52 week high of $400.81. The firm has a 50 day simple moving average of $320.25 and a 200 day simple moving average of $326.78. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $21.53 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.18 and a beta of 1.00.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter last year, the firm posted $4.55 EPS. The company's revenue was up 12.9% compared to the same quarter last year. Equities research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current 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.