Public Employees Retirement System of Ohio Increases Position in Corpay, Inc. $CPAY

Key Points

• Public Employees Retirement System of Ohio increased its stake in Corpay, Inc. by 5.0%, owning approximately 0.06% of the company worth $13.09 million after acquiring an additional 1,890 shares.
• Analysts have varying price targets for Corpay, with Robert W. Baird setting a target of $440.00, while other firms, like UBS Group, have recently lowered theirs to $340.00.
• Corpay reported $5.13 earnings per share for the last quarter, exceeding estimates, and achieved quarterly revenue of $1.10 billion, marking a 12.9% increase year-over-year.

Public Employees Retirement System of Ohio lifted its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,450 shares of the company's stock after buying an additional 1,890 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.06% of Corpay worth $13,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPAY. Zions Bancorporation National Association UT purchased a new position in shares of Corpay in the 1st quarter worth approximately $41,000. Rakuten Securities Inc. bought a new stake in shares of Corpay in the 1st quarter worth approximately $45,000. Larson Financial Group LLC raised its holdings in shares of Corpay by 309.5% in the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after purchasing an additional 130 shares during the period. Whipplewood Advisors LLC raised its holdings in shares of Corpay by 648.0% in the 1st quarter. Whipplewood Advisors LLC now owns 187 shares of the company's stock worth $65,000 after purchasing an additional 162 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Corpay by 22.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 261 shares of the company's stock worth $91,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on CPAY. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. 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 report on Monday, August 11th. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target for the company. UBS Group cut their price target on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, Wall Street Zen lowered Corpay from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $399.43.

Corpay Trading Up 1.8%

Corpay stock opened at $297.51 on Friday. The stock has a market cap of $21.01 billion, a P/E ratio of 20.21, a PEG ratio of 1.11 and a beta of 1.00. Corpay, Inc. has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. The firm's fifty day moving average price is $316.66 and its 200-day moving average price is $325.07. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12.

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, topping the consensus estimate of $5.11 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.55 earnings per share. Equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share 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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