Sunbelt Securities Inc. Takes Position in Corpay, Inc. (NYSE:CPAY)

Sunbelt Securities Inc. bought a new position in Corpay, Inc. (NYSE:CPAY) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 111 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of Corpay during the 1st quarter valued at $33,840,000. Contravisory Investment Management Inc. purchased a new position in shares of Corpay in the first quarter valued at about $8,537,000. Douglas Lane & Associates LLC bought a new position in shares of Corpay in the first quarter worth about $5,304,000. Czech National Bank purchased a new stake in shares of Corpay during the first quarter worth about $3,920,000. Finally, Peak Financial Advisors LLC bought a new stake in Corpay during the 1st quarter valued at approximately $3,119,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Price Performance

Shares of NYSE CPAY opened at $266.41 on Monday. Corpay, Inc. has a 1-year low of $220.39 and a 1-year high of $319.94. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. The stock’s 50 day moving average is $276.09. The company has a market capitalization of $18.72 billion, a PE ratio of 19.82, a P/E/G ratio of 1.02 and a beta of 1.21.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. The business had revenue of $935.25 million for the quarter, compared to analysts’ expectations of $936.25 million. Corpay had a net margin of 26.29% and a return on equity of 36.97%. As a group, equities research analysts anticipate that Corpay, Inc. will post 17.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research note on Friday, June 21st. Bank of America raised their target price on shares of Corpay from $326.00 to $331.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Wolfe Research downgraded shares of Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 price target on the stock. in a report on Friday, May 17th. Jefferies Financial Group increased their price objective on shares of Corpay from $340.00 to $355.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Barclays reduced 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $335.20.

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.