Southeast Asset Advisors LLC Buys Shares of 5,848 Corpay, Inc. $CPAY

Key Points

• Southeast Asset Advisors LLC has acquired a new stake in Corpay, Inc. (NYSE: CPAY) by purchasing 5,848 shares valued at approximately $2,039,000.
• Recent analyst reports show a mixed outlook for CPAY, with Wall Street Zen downgrading the stock from "buy" to "hold," while Deutsche Bank issued a "buy" rating with a target price of $390.00.
• Corpay reported a strong quarterly earnings result with an EPS of $5.13, surpassing estimates, and a revenue of $1.10 billion, marking a year-over-year increase of 12.9%.

Southeast Asset Advisors LLC bought a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,848 shares of the company's stock, valued at approximately $2,039,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Colonial Trust Co SC grew its position in Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after purchasing an additional 53 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Corpay during the first quarter worth about $41,000. Rakuten Securities Inc. purchased a new position in shares of Corpay during the first quarter worth about $45,000. Larson Financial Group LLC increased its position in Corpay by 309.5% in the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after acquiring an additional 130 shares during the period. Finally, Continuum Advisory LLC increased its position in Corpay by 29.6% in the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock valued at $62,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analyst Upgrades and Downgrades

CPAY has been the subject of a number of recent research reports. 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 research report on Monday, August 11th. UBS Group cut their price target on Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Robert W. Baird set a $440.00 price target on Corpay in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Corpay from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Corpay has a consensus rating of "Moderate Buy" and an average target price of $399.43.

Corpay Price Performance

Corpay stock traded up $0.15 during mid-day trading on Thursday, reaching $325.39. The company had a trading volume of 211,342 shares, compared to its average volume of 492,821. The stock's 50-day simple moving average is $325.37 and its 200-day simple moving average is $333.02. 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 company has a market capitalization of $22.98 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.23 and a beta of 0.96.

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 analysts' consensus estimates of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the prior year, the firm posted $4.55 EPS. The company's revenue was up 12.9% compared to the same quarter last year. On average, equities analysts predict that Corpay, Inc. will post 19.76 EPS for the current 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.