Regal Investment Advisors LLC Increases Stake in Corpay, Inc. (NYSE:CPAY)

Regal Investment Advisors LLC boosted its holdings in Corpay, Inc. (NYSE:CPAY) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,732 shares of the company’s stock after purchasing an additional 264 shares during the period. Regal Investment Advisors LLC’s holdings in Corpay were worth $4,458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPAY. Headlands Technologies LLC bought a new position in shares of Corpay in the first quarter worth approximately $31,000. LGT Financial Advisors LLC purchased a new stake in shares of Corpay during the second quarter worth about $33,000. Sunbelt Securities Inc. bought a new stake in shares of Corpay in the first quarter worth about $34,000. RFP Financial Group LLC bought a new stake in shares of Corpay in the first quarter worth about $35,000. Finally, Blue Trust Inc. raised its position in Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares during the last quarter. 98.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CPAY. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Bank of America dropped their target price on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group boosted their price target on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Wells Fargo & Company started coverage on shares of Corpay in a report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective for the company. Finally, Raymond James lowered their target price on Corpay from $330.00 to $311.00 and set an “outperform” 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $334.58.

Corpay Trading Up 1.5 %

Shares of CPAY opened at $311.24 on Monday. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $319.94. The company’s fifty day simple moving average 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. The stock has a market cap of $21.87 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same quarter last year, the firm posted $3.85 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, research analysts forecast that Corpay, Inc. will post 17.83 EPS for the current year.

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.