Verdence Capital Advisors LLC Increases Stake in Corpay, Inc. $CPAY

Key Points

• Verdence Capital Advisors LLC increased its stake in Corpay, Inc. by 13.2%, owning 18,972 shares worth approximately $6.3 million after acquiring an additional 2,219 shares in the second quarter.
• Corpay, Inc. reported a Q2 earnings per share of $5.13, surpassing analyst estimates of $5.11, with revenue increasing 12.9% year-over-year to $1.10 billion.
• The stock has an average rating of "Moderate Buy" from 15 analysts, with a current average price target of $396.21.

Verdence Capital Advisors LLC lifted its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 13.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,972 shares of the company's stock after buying an additional 2,219 shares during the quarter. Verdence Capital Advisors LLC's holdings in Corpay were worth $6,295,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. purchased a new stake in shares of Corpay in the second quarter worth about $33,000. Ameritas Advisory Services LLC bought a new stake in Corpay in the 2nd quarter worth approximately $37,000. Zions Bancorporation National Association UT purchased a new stake in shares of Corpay during the 1st quarter worth approximately $41,000. Rakuten Securities Inc. purchased a new stake in shares of Corpay during the 1st quarter worth approximately $45,000. Finally, Larson Financial Group LLC boosted its position in shares of Corpay by 309.5% during 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 last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Price Performance

NYSE CPAY opened at $280.37 on Monday. The company has a market cap of $19.80 billion, a PE ratio of 19.05, a P/E/G ratio of 1.06 and a beta of 0.97. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The firm's 50 day moving average price is $308.11 and its 200-day moving average price is $320.57.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company posted $4.55 earnings per share. The firm's revenue was up 12.9% on a year-over-year basis. Sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 price target on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Corpay in a research report on Wednesday, October 8th. Morgan Stanley lowered their price target on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Keefe, Bruyette & Woods reduced their price objective on Corpay from $445.00 to $400.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 1st. Finally, UBS Group decreased their price objective on Corpay from $365.00 to $340.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Ten 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $396.21.

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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