Daiwa Securities Group Inc. Acquires 448 Shares of Corpay, Inc. (NYSE:CPAY)

Daiwa Securities Group Inc. boosted its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,665 shares of the company’s stock after purchasing an additional 448 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Corpay were worth $2,042,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CPAY. Global Retirement Partners LLC acquired a new position in Corpay in the 1st quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in Corpay during the 1st quarter valued at $31,000. LGT Financial Advisors LLC acquired a new stake in Corpay during the 2nd quarter valued at $33,000. Sunbelt Securities Inc. bought a new position in Corpay in the 1st quarter valued at $34,000. Finally, RFP Financial Group LLC bought a new position in Corpay in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analysts Set New Price Targets

CPAY has been the topic of several recent research reports. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group lifted their price target on Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research note on Thursday, August 8th. William Blair raised Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $332.50.

Corpay Trading Up 0.5 %

Shares of CPAY stock opened at $307.43 on Friday. 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 company has a market capitalization 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 company has a 50 day moving average of $292.85. Corpay, Inc. has a 1 year low of $220.39 and a 1 year high of $319.94.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same period in the previous year, the business earned $3.85 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. Analysts forecast that Corpay, Inc. will post 17.81 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.