Waters Parkerson & CO. LLC Invests $10.58 Million in Corpay, Inc. (NYSE:CPAY)

Waters Parkerson & CO. LLC purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,260 shares of the company's stock, valued at approximately $10,579,000.

Several other large investors also recently modified their holdings of CPAY. Avion Wealth raised its holdings in shares of Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the last quarter. Colonial Trust Co SC boosted its position in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after buying an additional 53 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of Corpay in the 4th quarter valued at $42,000. Assetmark Inc. raised its position in shares of Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after acquiring an additional 60 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in Corpay in the fourth quarter valued at about $43,000. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CPAY. Keefe, Bruyette & Woods upped their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. UBS Group decreased their price objective on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Raymond James reaffirmed an "outperform" rating and issued a $414.00 price target (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Barclays cut their price objective on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Wells Fargo & Company lowered their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $395.07.

Corpay Price Performance

Shares of NYSE:CPAY opened at $348.64 on Monday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81. The company has a market cap of $24.58 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.32 and a beta of 0.98. The firm has a 50 day simple moving average of $328.21 and a 200 day simple moving average of $350.50.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.50 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The company's revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.10 EPS. Research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal 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.

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