William Allan Corp Buys 5,047 Shares of Corpay, Inc. (NYSE:CPAY)

William Allan Corp raised its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 425.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,234 shares of the company's stock after acquiring an additional 5,047 shares during the quarter. William Allan Corp's holdings in Corpay were worth $2,174,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of Corpay by 163.7% during the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company's stock worth $570,801,000 after acquiring an additional 1,047,080 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Corpay by 20.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company's stock worth $1,976,651,000 after purchasing an additional 1,000,699 shares during the last quarter. Norges Bank acquired a new stake in shares of Corpay in the 4th quarter valued at $241,739,000. GAMMA Investing LLC increased its stake in shares of Corpay by 38,235.3% in the 1st quarter. GAMMA Investing LLC now owns 559,696 shares of the company's stock valued at $195,177,000 after purchasing an additional 558,236 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Corpay by 4,811.9% in the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company's stock valued at $194,326,000 after purchasing an additional 545,907 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CPAY. Robert W. Baird set a $440.00 price objective on shares of Corpay in a research report on Tuesday, June 10th. Oppenheimer started coverage on Corpay in a research note 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 report on Friday, July 18th. 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 report on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a research report on Thursday, July 17th. They set a "buy" rating and a $390.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $401.07.

Corpay Stock Performance

NYSE:CPAY traded down $14.77 during trading hours on Thursday, reaching $329.37. The stock had a trading volume of 384,625 shares, compared to its average volume of 484,347. The stock has a market cap of $23.22 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 1.27 and a beta of 0.95. The stock has a 50 day simple moving average of $331.94 and a 200 day simple moving average of $341.67. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. Corpay, Inc. has a 12-month low of $265.06 and a 12-month high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, beating the consensus estimate of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The company's revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.10 earnings per share. On average, research analysts forecast that Corpay, Inc. will post 19.76 EPS 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.