Kentucky Retirement Systems Insurance Trust Fund Invests $684,000 in Corpay, Inc. (NYSE:CPAY)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,962 shares of the company's stock, valued at approximately $684,000.

Several other hedge funds have also recently added to or reduced their stakes in CPAY. Sanctuary Advisors LLC raised its holdings 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 purchasing an additional 305 shares during the last quarter. Truist Financial Corp raised its holdings in Corpay by 15.9% during the 4th quarter. Truist Financial Corp now owns 8,389 shares of the company's stock worth $2,839,000 after purchasing an additional 1,151 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Corpay during the 4th quarter worth approximately $350,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Corpay during the 4th quarter worth approximately $228,000. Finally, Global Retirement Partners LLC grew its position in shares of Corpay by 38.5% during the 4th quarter. Global Retirement Partners LLC now owns 169 shares of the company's stock worth $57,000 after buying an additional 47 shares during the period. Institutional investors own 98.84% of the company's stock.

Wall Street Analyst Weigh In

CPAY has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Oppenheimer assumed coverage on shares of Corpay in a research report on Monday, April 28th. They issued a "market perform" rating for the company. UBS Group reduced their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Raymond James Financial reissued an "outperform" rating and issued a $414.00 price target (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of Corpay from a "buy" rating to a "hold" rating in a research report on Sunday. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $401.86.

Corpay Stock Up 0.1%

CPAY traded up $0.24 during mid-day trading on Thursday, reaching $326.71. 356,085 shares of the stock were exchanged, compared to its average volume of 479,651. The stock has a market capitalization of $23.03 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 1.39 and a beta of 0.96. Corpay, Inc. has a 1 year low of $264.08 and a 1 year high of $400.81. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. The company has a 50 day moving average price of $328.89 and a two-hundred day moving average price of $343.77.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping analysts' consensus estimates of $4.50 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.10 EPS. As a group, research analysts anticipate that Corpay, Inc. will post 19.76 EPS 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.