Acadian Asset Management LLC acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 2,144 shares of the company’s stock, valued at approximately $571,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. bought a new position in shares of Corpay during the first quarter worth $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in Corpay in the 1st quarter worth $1,429,445,000. Price T Rowe Associates Inc. MD bought a new position in shares of Corpay during the 1st quarter valued at about $1,355,377,000. Boston Partners purchased a new position in shares of Corpay during the first quarter valued at about $553,667,000. Finally, Sustainable Growth Advisers LP bought a new stake in shares of Corpay in the first quarter worth about $553,279,000. Institutional investors own 98.84% of the company’s stock.
Corpay Trading Down 0.2 %
Shares of CPAY opened at $306.88 on Wednesday. The company has a fifty day moving average price of $294.31. The stock has a market capitalization of $21.31 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.22 and a beta of 1.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay, Inc. has a twelve month low of $220.39 and a twelve month high of $319.94.
Wall Street Analysts Forecast Growth
CPAY has been the subject of a number of research reports. Evercore ISI dropped their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. Raymond James cut their target price 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. Jefferies Financial Group upped their price target on shares of Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company initiated coverage on shares of Corpay in a report on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 target price on the stock. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $332.50.
View Our Latest Research Report on CPAY
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.
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