Corpay, Inc. (NYSE:CPAY) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its holdings in Corpay, Inc. (NYSE:CPAY) by 30.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,951 shares of the company’s stock after acquiring an additional 4,433 shares during the period. Verdence Capital Advisors LLC’s holdings in Corpay were worth $5,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CPAY. Epic Trust Investment Advisors LLC boosted its holdings in Corpay by 4.1% in the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after purchasing an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after buying an additional 43 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Corpay by 4.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock worth $352,000 after acquiring an additional 54 shares in the last quarter. Capital Insight Partners LLC lifted its position in Corpay by 2.5% in the second quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock valued at $601,000 after acquiring an additional 55 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of Corpay during the first quarter worth about $25,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CPAY shares. BMO Capital Markets dropped their price objective 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. Barclays dropped their target price on Corpay from $355.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Jefferies Financial Group lifted their price objective on shares of Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Wells Fargo & Company assumed coverage on shares of Corpay in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price objective for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and a consensus target price of $332.50.

Corpay Price Performance

CPAY traded up $2.93 on Monday, reaching $300.89. The company’s stock had a trading volume of 540,210 shares, compared to its average volume of 463,041. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $319.94. The firm has a 50 day moving average of $279.88. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $21.14 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.85 EPS. As a group, research analysts forecast that Corpay, Inc. will post 17.82 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.