Simon Quick Advisors LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,455 shares of the company's stock, valued at approximately $507,000.
Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of Corpay by 453.9% in the fourth quarter. Empowered Funds LLC now owns 6,259 shares of the company's stock worth $2,118,000 after buying an additional 5,129 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Corpay by 17.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock worth $8,067,000 after buying an additional 3,504 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Corpay by 10.1% in the fourth quarter. Principal Securities Inc. now owns 962 shares of the company's stock worth $326,000 after buying an additional 88 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Corpay by 9.9% in the fourth quarter. Allworth Financial LP now owns 487 shares of the company's stock worth $182,000 after buying an additional 44 shares in the last quarter. Finally, Mainsail Asset Management LLC purchased a new position in shares of Corpay in the fourth quarter worth $203,000. Hedge funds and other institutional investors own 98.84% of the company's stock.
Wall Street Analysts Forecast Growth
CPAY has been the topic of several research reports. Oppenheimer initiated coverage on shares of Corpay in a research report on Monday, April 28th. They issued a "market perform" rating on the stock. 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 report on Wednesday, May 7th. 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 report on Monday, April 14th. Wells Fargo & Company cut their price objective 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. Finally, Robert W. Baird set a $440.00 price objective on shares of Corpay in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $398.07.
Read Our Latest Stock Analysis on Corpay
Corpay Stock Down 7.7%
NYSE:CPAY traded down $27.07 during mid-day trading on Friday, reaching $322.98. The company's stock had a trading volume of 752,935 shares, compared to its average volume of 482,134. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The firm has a market capitalization of $22.77 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.32 and a beta of 0.96. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock has a fifty day moving average of $326.42 and a 200-day moving average of $346.67.
Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. The business 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 company's revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $4.10 EPS. Equities research analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current year.
Corpay Profile
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Free Report)
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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