Vestcor Inc Buys 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 raised its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 36.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,703 shares of the company's stock after purchasing an additional 2,617 shares during the period. Vestcor Inc's holdings in Corpay were worth $3,384,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Meeder Advisory Services Inc. lifted its holdings in shares of Corpay by 5.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock valued at $236,000 after purchasing an additional 32 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Corpay by 17.1% in the 1st quarter. Mackenzie Financial Corp now owns 6,782 shares of the company's stock valued at $2,365,000 after purchasing an additional 990 shares during the period. TCW Group Inc. grew its position in shares of Corpay by 1.6% during the 1st quarter. TCW Group Inc. now owns 19,654 shares of the company's stock valued at $6,854,000 after acquiring an additional 310 shares during the period. LPL Financial LLC lifted its position in shares of Corpay by 10.3% during the 1st quarter. LPL Financial LLC now owns 10,833 shares of the company's stock valued at $3,778,000 after buying an additional 1,010 shares in the last quarter. Finally, Councilmark Asset Management LLC acquired a new stake in shares of Corpay in the first quarter valued at about $201,000. Institutional investors own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Oppenheimer initiated coverage on shares of Corpay in a research report on Monday, April 28th. They set a "market perform" rating on the stock. UBS Group dropped 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. Wells Fargo & Company cut their target price on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price target for the company. Finally, Barclays lowered their price objective 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. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $401.07.

Corpay Stock Up 2.4%

Shares of NYSE:CPAY traded up $7.68 during midday trading on Monday, hitting $324.08. 180,319 shares of the stock were exchanged, compared to its average volume of 486,069. The company has a market capitalization of $22.85 billion, a PE ratio of 22.73, a P/E/G ratio of 1.20 and a beta of 0.96. Corpay, Inc. has a 52-week low of $265.06 and a 52-week high of $400.81. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. The business's fifty day simple moving average is $330.75 and its two-hundred day simple moving average is $340.20.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business earned $4.10 EPS. Corpay's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.