Corpay, Inc. (NYSE:CPAY) Shares Bought by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC lifted its position in shares of Corpay, Inc. (NYSE:CPAY) by 27.4% in the second quarter, Holdings Channel reports. The institutional investor owned 1,598 shares of the company’s stock after acquiring an additional 344 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Corpay were worth $426,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in Corpay in the first quarter valued at about $31,000. LGT Financial Advisors LLC purchased a new position in shares of Corpay during the 2nd quarter worth approximately $33,000. Sunbelt Securities Inc. acquired a new stake in Corpay in the 1st quarter valued at approximately $34,000. RFP Financial Group LLC purchased a new stake in Corpay in the first quarter valued at approximately $35,000. Finally, Blue Trust Inc. lifted its stake in Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Down 1.3 %

Shares of CPAY stock opened at $304.72 on Thursday. The firm has a market capitalization of $21.16 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.24 and a beta of 1.22. The stock’s fifty day moving average price is $296.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. During the same period in the prior year, the firm posted $3.85 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts forecast that Corpay, Inc. will post 17.83 EPS for the current year.

Analyst Ratings Changes

CPAY has been the subject of a number of research reports. Wells Fargo & Company assumed coverage on Corpay in a research note on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group raised their price objective on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Raymond James decreased their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $334.58.

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.