Stanley Capital Management LLC Purchases Shares of 69,790 Corpay, Inc. (NYSE:CPAY)

Stanley Capital Management LLC purchased a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 69,790 shares of the company’s stock, valued at approximately $18,593,000. Corpay comprises 3.8% of Stanley Capital Management LLC’s portfolio, making the stock its 8th largest position. Stanley Capital Management LLC owned about 0.10% of Corpay at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CPAY. Vanguard Group Inc. bought a new position in Corpay during the first quarter valued at approximately $2,431,089,000. JPMorgan Chase & Co. bought a new position in shares of Corpay in the first quarter worth approximately $1,429,445,000. Price T Rowe Associates Inc. MD bought a new position in shares of Corpay in the first quarter worth approximately $1,355,377,000. Boston Partners bought a new position in shares of Corpay in the first quarter worth approximately $553,667,000. Finally, Sustainable Growth Advisers LP bought a new position in shares of Corpay in the first quarter worth approximately $553,279,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Trading Up 1.5 %

Shares of Corpay stock opened at $311.67 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $21.90 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 1.22 and a beta of 1.22. The firm’s fifty day moving average price is $296.51. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.85 earnings per share. Analysts predict that Corpay, Inc. will post 17.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CPAY. Evercore ISI cut their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. raised their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Bank of America dropped their price target on Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

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.