Sanctuary Advisors LLC Purchases Shares of 1,934 Corpay, Inc. (NYSE:CPAY)

Sanctuary Advisors LLC acquired a new position in Corpay, Inc. (NYSE:CPAY) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,934 shares of the company’s stock, valued at approximately $515,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Maven Securities LTD acquired a new position in Corpay during the second quarter worth about $666,000. Clearbridge Investments LLC raised its holdings in shares of Corpay by 60.8% in the 2nd quarter. Clearbridge Investments LLC now owns 6,905 shares of the company’s stock worth $1,840,000 after purchasing an additional 2,610 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Corpay by 2.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 76,230 shares of the company’s stock valued at $20,308,000 after purchasing an additional 1,852 shares during the last quarter. Aurora Investment Counsel bought a new stake in Corpay during the second quarter worth approximately $2,380,000. Finally, Advisory Alpha LLC grew its position in Corpay by 13.6% in the second quarter. Advisory Alpha LLC now owns 1,306 shares of the company’s stock worth $348,000 after buying an additional 156 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CPAY. Jefferies Financial Group increased their price target on Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Raymond James decreased their target price 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. Finally, BMO Capital Markets upped their price target on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Three equities research 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 stock. According to data from MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and an average target price of $346.25.

Corpay Trading Up 1.1 %

CPAY stock opened at $342.54 on Wednesday. The business has a fifty day moving average price of $308.24 and a 200 day moving average price of $291.36. 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, Inc. has a fifty-two week low of $220.39 and a fifty-two week high of $343.86. The stock has a market capitalization of $24.07 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 1.33 and a beta of 1.22.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping 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 company had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same period in the prior year, the business earned $3.85 earnings per share. Corpay’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts expect that Corpay, Inc. will post 17.83 EPS for the current fiscal year.

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.