Quest Partners LLC Acquires Shares of 1,365 Corpay, Inc. (NYSE:CPAY)

Quest Partners LLC acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the second quarter, HoldingsChannel.com reports. The fund acquired 1,365 shares of the company’s stock, valued at approximately $364,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CPAY. Paralel Advisors LLC purchased a new stake in Corpay during the 2nd quarter valued at $1,971,000. Anchor Capital Advisors LLC grew its stake in shares of Corpay by 42.4% in the second quarter. Anchor Capital Advisors LLC now owns 65,831 shares of the company’s stock worth $17,538,000 after purchasing an additional 19,607 shares during the last quarter. Custom Index Systems LLC increased its holdings in Corpay by 29.3% during the 2nd quarter. Custom Index Systems LLC now owns 1,562 shares of the company’s stock valued at $416,000 after purchasing an additional 354 shares during the period. Acadian Asset Management LLC bought a new position in Corpay during the 2nd quarter valued at approximately $571,000. Finally, Gallacher Capital Management LLC purchased a new stake in Corpay in the 2nd quarter worth approximately $260,000. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Up 0.5 %

Shares of CPAY opened at $307.43 on Friday. Corpay, Inc. has a 52 week low of $220.39 and a 52 week high of $319.94. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $21.34 billion, a PE ratio of 22.87, a P/E/G ratio of 1.22 and a beta of 1.22. The stock has a 50 day moving average of $292.85.

Corpay (NYSE:CPAY) last released 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 firm 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 company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.85 earnings per share. On average, equities analysts anticipate that Corpay, Inc. will post 17.81 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CPAY. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Raymond James decreased their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price 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. William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research report on Thursday, August 8th. Three investment 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 company’s stock. According to MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $332.50.

Corpay 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.