Corpay, Inc. (NYSE:CPAY) Shares Purchased by Virtu Financial LLC

Key Points

• Virtu Financial LLC increased its position in Corpay, Inc. by 159.8% during the first quarter, now holding shares worth approximately $1.67 million.
• Wall Street analysts have downgraded their price targets for Corpay, with estimates now ranging from $339.00 to $440.00, while maintaining a majority "buy" rating for the stock.
• Corpay's latest earnings report showed a 12.9% increase in revenue year-over-year, beating consensus EPS estimates by two cents.

Virtu Financial LLC increased its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 159.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,801 shares of the company's stock after buying an additional 2,953 shares during the period. Virtu Financial LLC's holdings in Corpay were worth $1,674,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CPAY. Envestnet Asset Management Inc. increased its stake in Corpay by 11.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 77,672 shares of the company's stock worth $26,286,000 after buying an additional 7,881 shares during the period. Federated Hermes Inc. increased its stake in Corpay by 6,150.0% during the 4th quarter. Federated Hermes Inc. now owns 250 shares of the company's stock worth $85,000 after buying an additional 246 shares during the period. Covestor Ltd increased its stake in Corpay by 31.4% during the 4th quarter. Covestor Ltd now owns 276 shares of the company's stock worth $93,000 after buying an additional 66 shares during the period. Optimize Financial Inc purchased a new stake in Corpay during the 4th quarter worth approximately $357,000. Finally, Mariner LLC increased its stake in Corpay by 11.2% during the 4th quarter. Mariner LLC now owns 9,986 shares of the company's stock worth $3,379,000 after buying an additional 1,005 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CPAY shares. Oppenheimer started coverage on shares of Corpay in a research note on Monday, April 28th. They set a "market perform" rating on the stock. Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. Wells Fargo & Company lowered their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price target for the company. Finally, 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. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Corpay currently has a consensus rating of "Moderate Buy" and an average price target of $396.33.

Corpay Stock Down 0.3%

Shares of Corpay stock traded down $1.06 during trading hours on Friday, hitting $319.17. The company had a trading volume of 187,485 shares, compared to its average volume of 497,264. The company's 50-day moving average is $328.06 and its two-hundred day moving average is $336.80. Corpay, Inc. has a twelve month low of $269.02 and a twelve month 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 cap of $22.54 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 1.20 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last issued 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. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. Corpay's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.55 EPS. Analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Corpay Company 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.