Diversified Trust Co Makes New $6.34 Million Investment in Corpay, Inc. (NYSE:CPAY)

Diversified Trust Co acquired a new position in shares of Corpay, Inc. (NYSE:CPAY) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,560 shares of the company’s stock, valued at approximately $6,344,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Agate Pass Investment Management LLC acquired a new position in Corpay in the first quarter valued at about $3,937,000. Transform Wealth LLC acquired a new position in Corpay in the first quarter valued at about $7,223,000. Charles Schwab Trust Co acquired a new position in Corpay in the first quarter valued at about $1,234,000. Beese Fulmer Investment Management Inc. acquired a new position in Corpay in the first quarter valued at about $1,398,000. Finally, Czech National Bank acquired a new position in Corpay during the first quarter worth about $3,920,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CPAY. Evercore ISI lowered their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. 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. Jefferies Financial Group boosted their target price on Corpay from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Citigroup boosted their target price on Corpay from $325.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Robert W. Baird boosted their price target on Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $335.20.

Corpay Stock Performance

Shares of NYSE:CPAY traded down $1.26 during midday trading on Monday, hitting $265.15. 90,719 shares of the stock were exchanged, compared to its average volume of 476,043. The business’s 50-day simple moving average is $276.09. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The firm has a market cap of $18.63 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.02 and a beta of 1.21. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The business had revenue of $935.25 million for the quarter, compared to analysts’ expectations of $936.25 million. As a group, sell-side analysts expect that Corpay, Inc. will post 17.83 EPS for the current 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.