Vestcor Inc Acquires 2,617 Shares of Corpay, Inc. (NYSE:CPAY)

Key Points

• Vestcor Inc increased its stake in Corpay, Inc. by 36.9%, now owning a total of 9,703 shares valued at $3,384,000.
• Corpay's earnings per share (EPS) for the last quarter was $4.51, exceeding analysts' expectations by $0.01, while the company achieved a net margin of 25.15%.
• Analyst ratings for Corpay are generally optimistic, with an average rating of "Moderate Buy" and a target price averaging $401.07.

Vestcor Inc grew its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 36.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,703 shares of the company's stock after purchasing an additional 2,617 shares during the quarter. Vestcor Inc's holdings in Corpay were worth $3,384,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CPAY. Meeder Advisory Services Inc. boosted its stake in shares of Corpay by 5.0% in the first quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock valued at $236,000 after buying an additional 32 shares during the period. Fulton Bank N.A. boosted its stake in shares of Corpay by 2.1% in the first quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock valued at $581,000 after buying an additional 34 shares during the period. Wedmont Private Capital lifted its stake in Corpay by 3.2% during the first quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock worth $387,000 after purchasing an additional 34 shares during the last quarter. Continuum Advisory LLC lifted its stake in Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after purchasing an additional 42 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Corpay by 1.6% during the first quarter. Fifth Third Bancorp now owns 2,691 shares of the company's stock worth $938,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Analyst Ratings Changes

CPAY has been the subject of several recent analyst reports. Robert W. Baird set a $440.00 target price on Corpay in a research note on Tuesday, June 10th. Raymond James Financial restated an "outperform" rating and set a $414.00 target price (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Oppenheimer initiated coverage on Corpay in a research note on Monday, April 28th. They set a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research note on Thursday, July 17th. They set a "buy" rating and a $390.00 target price for the company. Finally, Wells Fargo & Company cut their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $401.07.

Corpay Trading Down 2.1%

NYSE CPAY traded down $6.81 on Friday, reaching $316.24. The company had a trading volume of 545,431 shares, compared to its average volume of 426,833. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.20 and a beta of 0.96. Corpay, Inc. has a fifty-two week low of $265.06 and a fifty-two week high of $400.81. The business has a 50 day moving average of $330.75 and a two-hundred day moving average of $340.56. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.10 and a quick ratio of 1.10.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. Corpay's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.10 earnings per share. Analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Corpay Profile

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.