Wilkins Investment Counsel Inc. Acquires 3,054 Shares of Corpay, Inc. (NYSE:CPAY)

Key Points

• Wilkins Investment Counsel Inc. increased its stake in Corpay, Inc. by 11.2%, acquiring an additional 3,054 shares, bringing its total holdings to 30,399 shares valued at approximately $10.6 million.
• Research analysts have mixed views on Corpay, with a current consensus rating of "Moderate Buy" and an average target price of $401.07, despite recent price target reductions from firms like UBS Group and Wells Fargo.
• Corpay reported a Q1 earnings** per share (EPS) of $4.51, slightly beating expectations, while revenue reached $1.01 billion, marking a 7.5% increase compared to the same quarter last year.

Wilkins Investment Counsel Inc. raised its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 11.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,399 shares of the company's stock after acquiring an additional 3,054 shares during the quarter. Corpay makes up 1.5% of Wilkins Investment Counsel Inc.'s holdings, making the stock its 29th largest holding. Wilkins Investment Counsel Inc.'s holdings in Corpay were worth $10,601,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts have issued reports on CPAY shares. Robert W. Baird set a $440.00 target price on shares of Corpay in a report on Tuesday, June 10th. UBS Group lowered their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Oppenheimer began coverage on shares of Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Barclays reduced their price objective on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Wells Fargo & Company dropped their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $401.07.

Corpay Stock Performance

Shares of CPAY opened at $333.85 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69. The firm has a market cap of $23.53 billion, a PE ratio of 23.41, a P/E/G ratio of 1.31 and a beta of 0.95. Corpay, Inc. has a 12 month low of $265.06 and a 12 month high of $400.81. The stock has a fifty day moving average price of $331.68 and a 200-day moving average price of $341.61.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating analysts' consensus estimates of $4.50 by $0.01. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the business posted $4.10 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. Equities research analysts predict 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.

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