Hendershot Investments Inc. Buys 9,725 Shares of Corpay, Inc. (NYSE:CPAY)

Hendershot Investments Inc. lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 48.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,818 shares of the company’s stock after acquiring an additional 9,725 shares during the quarter. Hendershot Investments Inc.’s holdings in Corpay were worth $7,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Epic Trust Investment Advisors LLC grew its holdings in Corpay by 4.1% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after acquiring an additional 39 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Corpay by 21.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after purchasing an additional 43 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Corpay by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock valued at $352,000 after buying an additional 54 shares during the period. Capital Insight Partners LLC boosted its holdings in shares of Corpay by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock worth $601,000 after buying an additional 55 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Corpay by 0.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock worth $2,066,000 after buying an additional 71 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Corpay Trading Down 2.3 %

Shares of CPAY stock opened at $304.68 on Friday. The company’s 50 day simple moving average is $288.18. The stock has a market cap of $21.41 billion, a PE ratio of 22.67, a P/E/G ratio of 1.26 and a beta of 1.22. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.85 earnings per share. On average, equities analysts predict that Corpay, Inc. will post 17.81 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Barclays reduced their price target on shares of Corpay from $355.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday. Wells Fargo & Company assumed coverage on shares of Corpay in a research report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $332.50.

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.