18,304 Shares in Corpay, Inc. (NYSE:CPAY) Bought by Aviance Capital Partners LLC

Aviance Capital Partners LLC bought a new position in Corpay, Inc. (NYSE:CPAY) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,304 shares of the company’s stock, valued at approximately $5,648,000. Corpay accounts for approximately 0.8% of Aviance Capital Partners LLC’s holdings, making the stock its 26th biggest position.

Other large investors have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new stake in Corpay in the 1st quarter valued at $34,000. Massmutual Trust Co. FSB ADV acquired a new stake in Corpay in the 1st quarter valued at $61,000. Financial Management Professionals Inc. acquired a new stake in Corpay in the 1st quarter valued at $130,000. GAMMA Investing LLC acquired a new stake in Corpay in the 1st quarter valued at $149,000. Finally, Wedmont Private Capital acquired a new stake in Corpay in the 1st quarter valued at $242,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Price Performance

NYSE:CPAY traded up $1.09 during mid-day trading on Monday, reaching $267.50. The stock had a trading volume of 22,710 shares, compared to its average volume of 475,499. The stock has a market cap of $18.80 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 1.02 and a beta of 1.21. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $319.94. The business has a 50 day simple moving average of $276.09. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY) last issued its 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 net margin of 26.29% and a return on equity of 36.97%. The firm had revenue of $935.25 million for the quarter, compared to analysts’ expectations of $936.25 million. Sell-side analysts anticipate that Corpay, Inc. will post 17.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CPAY shares. Barclays lowered their target price on Corpay from $355.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. BMO Capital Markets lowered their target price on Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research note on Friday, June 21st. Wells Fargo & Company started coverage on Corpay in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 target price for the company. Finally, Wolfe Research downgraded Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 target price for the company. in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $335.20.

Corpay 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.