Sequoia Financial Advisors LLC Acquires 938 Shares of Corpay, Inc. $CPAY

Key Points

• Sequoia Financial Advisors LLC increased its ownership in Corpay, Inc. by 77.2%, acquiring an additional 938 shares in the second quarter, bringing its total holdings to 2,153 shares valued at approximately $714,000.
• Institutional investors own 98.84% of Corpay's stock, with notable purchases from firms like Vanguard Group, JPMorgan Chase, and Invesco in recent quarters.
• Corpay reported a quarterly revenue of $1.10 billion and earnings per share of $5.13, exceeding analyst expectations, and is projected to post earnings of $19.76 per share for the current fiscal year.

Sequoia Financial Advisors LLC raised its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 77.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,153 shares of the company's stock after purchasing an additional 938 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Corpay were worth $714,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Corpay by 1.5% during the first quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company's stock worth $2,745,398,000 after purchasing an additional 119,987 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Corpay by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock worth $1,648,970,000 after purchasing an additional 472,147 shares during the last quarter. Boston Partners lifted its position in shares of Corpay by 5.8% during the first quarter. Boston Partners now owns 2,163,940 shares of the company's stock worth $751,371,000 after purchasing an additional 118,542 shares during the last quarter. Invesco Ltd. lifted its position in shares of Corpay by 12.3% during the first quarter. Invesco Ltd. now owns 1,894,732 shares of the company's stock worth $660,731,000 after purchasing an additional 208,067 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Corpay by 30.7% during the first quarter. Wellington Management Group LLP now owns 1,275,059 shares of the company's stock worth $444,639,000 after purchasing an additional 299,452 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on CPAY shares. Raymond James Financial set a $392.00 price objective on Corpay and gave the company an "outperform" rating in a report on Thursday, August 7th. Keefe, Bruyette & Woods decreased their price objective on Corpay from $445.00 to $400.00 and set an "outperform" rating for the company in a report on Wednesday, October 1st. Weiss Ratings restated a "buy (b-)" rating on shares of Corpay in a report on Wednesday, October 8th. Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Finally, Morgan Stanley decreased their price objective on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $395.58.

Corpay Price Performance

CPAY opened at $285.90 on Friday. The business's 50-day moving average is $305.28 and its two-hundred day moving average is $318.46. Corpay, Inc. has a 1 year low of $269.02 and a 1 year high of $400.81. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $20.19 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.08 and a beta of 0.97.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm earned $4.55 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts anticipate 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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