Wedmont Private Capital Has $335,000 Stock Position in Corpay, Inc. (NYSE:CPAY)

Wedmont Private Capital boosted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,006 shares of the company’s stock after buying an additional 96 shares during the period. Wedmont Private Capital’s holdings in Corpay were worth $335,000 as of its most recent filing with the SEC.

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

Corpay Trading Up 1.0 %

Shares of Corpay stock opened at $339.32 on Friday. The business has a fifty day simple moving average of $305.35 and a two-hundred day simple moving average of $291.01. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $342.95. The company has a market capitalization of $23.56 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 1.33 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.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. 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 note on Thursday, August 8th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Bank of America decreased their target price on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets raised their target price on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.83.

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.