4,934 Shares in Corpay, Inc. (NYSE:CPAY) Bought by Wealthquest Corp

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 bought a new stake in Corpay, Inc. (NYSE:CPAY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,934 shares of the company's stock, valued at approximately $1,721,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cerity Partners LLC lifted its holdings in Corpay by 6.2% during the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company's stock worth $11,642,000 after buying an additional 1,942 shares during the last quarter. DAVENPORT & Co LLC purchased a new stake in shares of Corpay in the 1st quarter valued at about $213,000. GAMMA Investing LLC lifted its holdings in shares of Corpay by 9.9% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock valued at $560,000 after purchasing an additional 145 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Corpay by 9.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock valued at $1,016,000 after purchasing an additional 246 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of Corpay by 15.2% in the 1st quarter. Park Avenue Securities LLC now owns 1,898 shares of the company's stock valued at $662,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CPAY shares. Oppenheimer assumed coverage on Corpay in a report on Monday, April 28th. They issued a "market perform" rating for the company. Wall Street Zen raised Corpay from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Raymond James Financial reaffirmed an "outperform" rating and set a $414.00 price objective (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Wells Fargo & Company reduced their price objective 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research report on Thursday, July 17th. They set a "buy" rating and a $390.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $401.07.

Corpay Trading Up 2.5%

Shares of Corpay stock traded up $7.93 during trading hours on Monday, reaching $324.33. 359,371 shares of the company's stock were exchanged, compared to its average volume of 487,396. Corpay, Inc. has a 52-week low of $265.06 and a 52-week high of $400.81. The firm has a market capitalization of $22.86 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 1.20 and a beta of 0.96. The company has a fifty day moving average of $330.75 and a 200-day moving average of $340.20. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share 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 posted $4.10 EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts forecast that Corpay, Inc. will post 19.76 EPS 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.