Corpay, Inc. (NYSE:CPAY) Shares Acquired by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. lifted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 31.1% in the third quarter, HoldingsChannel.com reports. The firm owned 16,437 shares of the company’s stock after acquiring an additional 3,902 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Corpay were worth $5,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chevy Chase Trust Holdings LLC purchased a new position in shares of Corpay during the first quarter worth $12,335,000. Empirical Finance LLC acquired a new position in Corpay in the 1st quarter valued at about $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Corpay in the 1st quarter valued at about $1,013,000. Agate Pass Investment Management LLC purchased a new stake in Corpay during the first quarter worth about $3,937,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Corpay during the first quarter worth about $949,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CPAY. Bank of America dropped their price objective on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Raymond James reduced their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. William Blair raised Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Evercore ISI lowered their price objective on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.92.

Corpay Trading Up 1.2 %

NYSE CPAY opened at $337.06 on Wednesday. Corpay, Inc. has a 12 month low of $220.39 and a 12 month high of $339.93. The company has a market capitalization of $23.68 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. 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 firm’s fifty day moving average price is $302.20 and its 200 day moving average price is $290.14.

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