SG Americas Securities LLC Has $4.41 Million Stake in Corpay, Inc. (NYSE:CPAY)

SG Americas Securities LLC raised its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 265.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,636 shares of the company's stock after acquiring an additional 9,178 shares during the period. SG Americas Securities LLC's holdings in Corpay were worth $4,406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPAY. Avion Wealth grew its stake in Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after buying an additional 91 shares in the last quarter. Colonial Trust Co SC grew its stake in Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after buying an additional 53 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after acquiring an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Corpay by 70.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock valued at $45,000 after purchasing an additional 55 shares in the last quarter. Finally, Knuff & Co LLC acquired a new stake in shares of Corpay in the 4th quarter valued at approximately $54,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CPAY. Barclays reduced their price target on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. UBS Group reduced their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Raymond James restated an "outperform" rating and issued a $414.00 price target (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Wells Fargo & Company reduced 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 note on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Corpay from a "hold" rating to a "buy" rating in a research note on Saturday. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $398.07.

Corpay Trading Down 7.7%

NYSE CPAY traded down $27.07 during trading hours on Friday, reaching $322.98. The company's stock had a trading volume of 752,935 shares, compared to its average volume of 482,762. The firm has a fifty day simple moving average of $326.42 and a 200-day simple moving average of $346.44. The stock has a market cap of $22.77 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.32 and a beta of 0.96. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business earned $4.10 EPS. The firm's quarterly revenue was up 7.5% on a year-over-year basis. Equities 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.