Procyon Advisors LLC Takes $1.25 Million Position in Corpay, Inc. (NYSE:CPAY)

Procyon Advisors LLC bought a new position in Corpay, Inc. (NYSE:CPAY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,586 shares of the company's stock, valued at approximately $1,251,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Permanent Capital Management LP acquired a new position in Corpay in the first quarter valued at approximately $201,000. Unique Wealth LLC grew its stake in shares of Corpay by 57.6% during the 1st quarter. Unique Wealth LLC now owns 1,428 shares of the company's stock worth $498,000 after purchasing an additional 522 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Corpay by 10.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,350 shares of the company's stock valued at $819,000 after purchasing an additional 217 shares in the last quarter. Unigestion Holding SA increased its holdings in shares of Corpay by 63.3% during the 1st quarter. Unigestion Holding SA now owns 4,083 shares of the company's stock valued at $1,424,000 after purchasing an additional 1,583 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its stake in shares of 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 institutional investors and hedge funds.

Wall Street Analyst Weigh In

CPAY has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Raymond James reissued an "outperform" rating and set a $414.00 target price (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Oppenheimer began coverage on Corpay in a research note on Monday, April 28th. They issued a "market perform" rating for the company. Barclays reduced their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, UBS Group lowered their price target on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $395.07.

Corpay Stock Up 2.1%

Shares of CPAY opened at $337.88 on Friday. The stock has a 50 day moving average price of $322.77 and a 200 day moving average price of $347.71. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The stock has a market capitalization of $23.82 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.32 and a beta of 0.98.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 25.25% and a return on equity of 41.46%. The firm's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.10 EPS. Equities research analysts forecast 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.

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