Wealthquest Corp Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Key Points

• Wealthquest Corp has invested $1.72 million in Corpay, acquiring 4,934 shares during the first quarter.
• A majority of Corpay's stock, approximately 98.84%, is owned by institutional investors and hedge funds, indicating strong institutional interest.
• Corpay's most recent quarterly earnings report showed an EPS of $4.51, which beat analysts' expectations, though revenue was slightly below forecasts at $1.01 billion.

Wealthquest Corp purchased a new position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,934 shares of the company's stock, valued at approximately $1,721,000.

Several other large investors also recently added to or reduced their stakes in CPAY. LPL Financial LLC boosted its holdings in shares of Corpay by 19.7% in the fourth quarter. LPL Financial LLC now owns 9,823 shares of the company's stock worth $3,324,000 after acquiring an additional 1,620 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Corpay in the 4th quarter worth about $8,734,000. Schroder Investment Management Group grew its holdings in Corpay by 369.7% during the 4th quarter. Schroder Investment Management Group now owns 33,094 shares of the company's stock valued at $11,200,000 after buying an additional 26,048 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Corpay by 44.2% during the fourth quarter. Clearbridge Investments LLC now owns 118,116 shares of the company's stock valued at $39,973,000 after buying an additional 36,184 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Corpay by 25.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,900 shares of the company's stock worth $981,000 after buying an additional 593 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Trading Down 2.1%

Shares of CPAY traded down $6.81 during trading hours on Friday, hitting $316.24. The company had a trading volume of 545,431 shares, compared to its average volume of 426,833. Corpay, Inc. has a 52-week low of $265.06 and a 52-week high of $400.81. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69. The stock's 50 day moving average price is $330.75 and its 200 day moving average price is $340.41. The firm has a market cap of $22.29 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.20 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last posted 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. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $4.10 EPS. Corpay's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, research analysts predict that Corpay, Inc. will post 19.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CPAY. UBS Group reduced their price objective on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Oppenheimer initiated coverage on shares of Corpay in a research report on Monday, April 28th. They set a "market perform" rating for the company. Raymond James Financial reiterated an "outperform" rating and issued a $414.00 price objective (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Finally, Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $401.07.

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.