Toronto Dominion Bank Invests $9.18 Million in Corpay, Inc. (NYSE:CPAY)

Toronto Dominion Bank bought a new stake in Corpay, Inc. (NYSE:CPAY) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 34,441 shares of the company’s stock, valued at approximately $9,175,000.

Other large investors also recently bought and sold shares of the company. Epic Trust Investment Advisors LLC grew its stake in shares of Corpay by 4.1% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after buying an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Corpay by 21.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after acquiring an additional 43 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Corpay by 4.3% during the second quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock worth $352,000 after acquiring an additional 54 shares during the last quarter. Capital Insight Partners LLC raised its position in Corpay by 2.5% during the second quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock valued at $601,000 after purchasing an additional 55 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Corpay by 0.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock valued at $2,066,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 1.5 %

Shares of NYSE CPAY opened at $311.29 on Friday. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $319.94. The company has a market cap of $21.87 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.24 and a beta of 1.22. The firm’s fifty day moving average price is $297.60. 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 (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating 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 firm had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same period in the previous year, the company posted $3.85 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts expect that Corpay, Inc. will post 17.83 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Raymond James decreased their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company began coverage on shares of Corpay in a report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective 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. Finally, Evercore ISI cut their target price on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.