209 Shares in Corpay, Inc. (NYSE:CPAY) Purchased by Covestor Ltd

Covestor Ltd bought a new position in shares of Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 209 shares of the company’s stock, valued at approximately $65,000.

Other hedge funds also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. acquired a new stake in Corpay in the first quarter valued at $586,000. Vanguard Group Inc. acquired a new position in shares of Corpay in the 1st quarter valued at $2,431,089,000. JPMorgan Chase & Co. acquired a new stake in Corpay during the 1st quarter worth $1,429,445,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Corpay in the first quarter valued at $12,069,000. Finally, Jupiter Asset Management Ltd. acquired a new position in Corpay in the first quarter valued at $72,007,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPAY has been the subject of several research analyst reports. Citigroup increased their price objective on Corpay from $325.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Wells Fargo & Company assumed coverage on Corpay in a report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Corpay from $330.00 to $326.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Jefferies Financial Group raised their target price on shares of Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, BMO Capital Markets dropped their price target on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $333.91.

Corpay Stock Down 1.2 %

CPAY opened at $285.98 on Thursday. The firm has a market capitalization of $20.10 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 1.11 and a beta of 1.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94. The firm’s fifty day moving average is $270.13.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The firm had revenue of $935.25 million for the quarter, compared to analyst estimates of $936.25 million. As a group, equities analysts expect that Corpay, Inc. will post 17.82 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.